The SEC and the Never-ending Saga of the Crypto ETF
07 Février 2019 - 6:23PM
ADVFN Crypto NewsWire
Bitcoin Global News (BGN)
February 07, 2019 -- ADVFN Crypto NewsWire -- No, this will
not be yet another piece that speculates on when the Securities and
Exchange Commission will approve any sort of crypto based exchange
traded fund. Even so, because of the news involving Abra yesterday,
something needs to be added to be added to the mix that applies to
both of these situations.
If you recall, yesterday, it was
announced that Abra will now allow its’ users to invest in
fractional shares of traditional stocks and ETFs on the same
platform that they already use to invest in around 30 different
cryptocurrencies. With this comes the added benefit that we
mentioned yesterday that Abra is still non-custodial and therefore,
only gives users the rights to all of these opportunities through
smart contracts.
Perhaps even more importantly
however, Abra’s pivot may help it to lead the charge for the
acceptance of a regulated, crypto exchange-traded-fund.
The reason for this possibility is
simple. If Abra can prove that crypto and shares of ETFs can be
safely tied together in a basic sense, then perhaps investors will
eventually be allowed, by their governments, to own direct shares
of them. Even though Abra’s current connection with ETFs is quite
indirect, it still represents an allowed, legal use case that could
prove that a crypto ETF is viable.
In other words, the SEC has been
dragging its’ feet and eventually rejecting every crypto ETF
proposal up to now. What this indicates is that they feel something
is missing in all of them, which could be a workaround, use case
that demonstrates that crypto ETFs can work in existing regulatory
frameworks. Therefore, in the end, it would seem that the Abra
platform might represent that use case in its’ most logical
form.
By: BGN Editorial Staff
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