Coinbase believes that the approval of the Bitcoin ETF by the US Securities and Exchange Commission (SEC) is a matter of time, probably by the end of 2021.
The cryptocurrency exchange listed on the Nasdaq as Coinbase Global Inc (NASDAQ: COIN) has reportedly voiced its opinion on the SEC's verdict regarding Bitcoin ETFs.
Specifically, Coinbase stated the following:
"We believe that given the clear public interest and favorable market developments, it is only a matter of time before the US SEC approves a Bitcoin ETF."
At the moment, Bitcoin ETFs remain a hot topic as the SEC continued to postpone its decision, so it has yet to take a position on it.
Only in this 2021, the SEC postponed its decision on March 15 and then on June 17.
Not only that, the umpteenth postponement was just two weeks ago, with the now classic request to proponents to send more comments. on how a Bitcoin ETF could be susceptible to manipulation and how they intend to prevent fraudulent acts and practices.
However, despite these continued delays, Coinbase believes that the SEC's situation vis-à-vis the Bitcoin ETF may turn positive soon.
According to Coinbase, Bitcoin ETFs will win
Coinbase remains positive that Bitcoin ETFs will prevail, despite being aware that the SEC has rejected at least a dozen applications ready to include them.
A proactive attitude due to the fact that the institutional demand for Bitcoin is constantly growing and expanding.
And indeed, institutional giants like Fidelity and VanEck They are waiting at the limit to approve the Bitcoin ETF.
Not only that, recently, new applications have been filed with the SEC on the same subject. This is the case of Global X Digital Assets, which is on the approval list for your Global X Bitcoin Trust ETF to be listed on the CBOE exchange.
Even Grayscale Investments has joined the crypto ETF mission in the US, in collaboration with BNY Mellon.
The idea would be to offer services related to the ETF of your Bitcoin Trust, perhaps being able to submit an application to the SEC that has already approved the GBTC and transform it into a bitcoin ETF.
In the midst of all the initiatives of the case, Coinbase, on the other hand, you have only expressed your positive and confident opinion toward prompt approval. The platform also recently underwent a class action lawsuit related to its debut to be listed on the Nasdaq. Among the defendants is CEO Brian Armstrong, along with executives and investors.