A bitcoin ETF could attract billions of dollars in new investments, so the Securities and Exchange Commission (SEC) should treat pending proposals as an opportunity to regulate the crypto market, said crypto exchange-traded fund advocate Gabor Gurbacs.

Gurbacs, the director of Digital Assets Strategy at VanEck, made this claim during an interview with CNBC Africa’s Crypto Trader. The comments came in the wake of VanEck’s persistent requests to the US securities regulator to approve their bitcoin ETF proposals. The SEC so far has rejected nine similar proposals, citing concerns about manipulation and market surveillance in the crypto spot market.

VanEck has been in the news for meticulously modifying its ETF application to address the SEC’s concerns. In times when the nascent crypto industry sometimes still works in a grey area of law, VanEck is attempting to launch a crypto ETF under a conventional regulatory watch.

If the SEC approves their ETF application, then it could certainly pave the way for both regulators and industry companies to understand how crypto fits into the federal regulatory framework.

SEC Concerns and VanEck’s Response

Previous articleTim Draper Stands by His Bitcoin Price Prediction of $250K in 2022
Next articleJudge Deals Setback to Winklevoss Quest to Reclaim $32 Million in ‘Stolen’ Bitcoin