Gabur Gurbacs, Director of Digital Assets Strategy at VanEck has expressed optimism over the SEC’s impending decision on the long-mooted Bitcoin exchange-traded fund (ETF) proposal by VanEck and SolidX.
Speaking to host Brad Smith during an appearance on Cheddar, Gurbacs stated that while the market clearly wants a bitcoin ETF, the only update available is that VanEck believes it has provided enough compelling reason for the SEC to approve the long-awaited fund, and it believes it has a good chance of receiving the regulator’s blessing.
“Increased Transparency and Better Structure”
Explaining the reason behind the company’s optimism, he said:
“The last day the ETF can be approved is end of February. We think we have met all required market structure, obstacles and requirements on pricing custody evaluation safekeeping. So, we are consciously optimistic but there is a lot more work to be done sort of to get the market ready. And some good announcements recently on over-the-counter markets being transparent.”
The conversation, which was posted on Brad Smith’s Twitter account earned mixed responses from an audience which was split between sharing Gurbac’s optimism and expressing reservations about the growth of the over-the-counter market’s transparency and surveillance capabilities.
Expanding later on his statement regarding increased maturation of crypto markets, Gurbacs tweeted:
@MVISIndices partners with OTC trading titans @CumberlandSays @circlepay and @GenesisTrading to bring to market the first established #OTC #Bitcoin #Index. Ticker: #MVBTCO. Giant leap in #Bitcoin and #digitalassets market structure development! More info: https://t.co/LfMRTG1ndR pic.twitter.com/Ax7ktWk9iT
— Gabor Gurbacs (@gaborgurbacs) November 20,