Does Switzerland’s Crypto ETP Have Any Significant Influence On Bitcoin ETF Approval?
The globe's first cryptocurrency exchange-traded product (ETP) will begin trading this week on a Swiss Exchange. It's Europe's fourth-biggest exchange with a market capitalisation of around $1.6 trillion.
The Amun AG cryptocurrency startup will list the index fund on a traditional stock exchange. The co-founder of Amun, Hany Rashwan said:
“The Amun ETP will give institutional investors that are restricted to investing only in securities or do not want to set up custody for digital assets exposure to cryptos.”
Bitcoin ETF vs Swiss Crypto ETP
There is an ongoing discussion on whether or not the approval of Switzerland’s cryptocurrency ETP will create more chances for a BTC ETF to be approved, but the available answer is showing a NO, according to an Oracle Times report.
It shows that the Amun ETP notion is somewhat similar to an ETF since it enables institutional investors and accredited retail traders to invest in digital currency without involving a third-party and also handle regulatory-related issues.
CCN reported that:
“The form of Grayscale Investment’s Bitcoin Investment Trust, and investors in the local market can purchase investment vehicles that represent the value of BTC.”
U.S. SEC Further Rejection of Several Bitcoin ETF Proposals
The U.S SEC rejected several BTC ETF proposals and revealed that the digital currency exchange market is still too nascent to manage an ETF.
As of now, we are not sure how the U.S SEC will rule, but what we are sure of is that Bakkt’s launch has a big influence on these approvals.
One of the reasons why the SEC is delaying these ETFs approvals is that the digital currency market and the futures market are inadequate to ascertain the real price of Bitcoin.
As Coinidol recently reported, the U.S SEC is not ready to make a final decision on BTC ETF. The deadline to decide on VanEck ETF was scheduled for December 29, 2018, according to lawyer Jake Chervinsky.
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