Bitcoin exchange-traded funds, or ETFs, have faced unfair pushback from U.S. regulators, according to VanEck director and digital asset specialist Gabor Gurbacs.
"There's a persistent double standard against Bitcoin and digital assets, which I think is wrong," Gurbacs told host Max Keiser on a recent episode of the Keiser Report.
In its simplest form, a Bitcoin ETF is a financial product traded officially on mainstream stock markets, with shares representing exposure to Bitcoin's price.
A Bitcoin ETF might be cash-backed or BTC-backed, depending on the product.
This avenue essentially allows folks Bitcoin investment and trading exposure through traditional market methods and brokers.
Over the past two to three years, the U.S. Securities and Exchange Commission, or SEC, has denied a massive number of Bitcoin ETFs.
VanEck, in collaboration with SolidX, submitted one of the most notable Bitcoin ETFs, facing a plethora of delays and difficulties before dropping its proposition.
For Bitcoin ETF approval, regulators say they need proof that Bitcoin exhibits true price action, or "Real price discovery," versus market manipulation.
Noting Bitcoin holds efficient price discovery, even better than certain commodities on the market, Gurbacs said he revealed proof of such data to regulators.
Alternative investment firm Wilshire Phoenix faced one of the most recent Bitcoin ETF denials in February 2020.
US Regulators Have Double Standards When It Comes to Bitcoin
Published on Jun 6, 2020
by Cointele | Published on Coinage
Mentioned in this article
3 Reasons Why Bloomberg Calling Bitcoin a 'Resting Bull' Is Inaccurate
Bloomberg senior commodities strategist Mike McGlone recently released a midyear crypto outlook, which states that Bitcoin volatility should continue to decrease as the asset behaves more like gold.
Bitcoin Stagnates, Criminals Targeted, $288K Prediction: Hodler's Digest, June 29-July 5
Top Stories This WeekBored with Bitcoin? This price level is key for a big breakoutIt has been a sleepy week in the crypto markets - and there's barely been any movement in Bitcoin.
Enterprise Friendly Blockchain Tapping Into Wine Supply Chain Business
Symbol from NEM makes blockchain solution to solve wine tampering and counterfeiting problems to save millions for the wine industry.
Bitcoin Undo Button & Fleeing Firms: Bad Crypto News of the Week
Maybe it's time to start talking about boring Bitcoin.