Hey ninja’s, how’s the trading going? On the day the crypto market is in the red zone with the largest cryptocurrency bitcoin reporting daily losses of 1% and is trading at $9,639 at press time. Top cryptocurrency Ethereum and XRP are also reporting daily losses of 0.48% and 0.05% respectively.
According to Gabor Gurbacs, digital asset specialist and director at VanEck, Bitcoin exchange-traded funds (ETF) have been facing unfair denials from US regulators. On a recent episode of the Keiser Report, Gurbacs explained to the host max Keiser that there is a double standard against Bitcoin and other digital assets and is wrong.
A massive number of Bitcoin ETF’s have been denied by the United States Securities and Exchange Commission (SEC) in the last three years, one the most notable Bitcoin ETF facing a large number of delays was submitted by VanEck and SolidX before dropping its proposition.
United States regulators explained that a major concern when evaluating a new commodity-based ETF is determining if the market is resilient to market manipulation and they require proof that Bitcoin shows true price action against market manipulation.
Gurbacs noted that Bitcoin efficient price discovery, more efficient than some commodities on the market, he claimed that he had submitted proof to regulators, explain that VanEck and its daughter company MV Index Solutions also developed regulated indices to appeal to regulators.