Coinbase: SEC approval of bitcoin-ETF imminent

July 28, 2021


Coinbase bitcoin-ETF imminent

Coinbase is optimistic about the prospect of bitcoin-based exchange-traded funds (ETFs) being approved in the US as early as this year or 2022. The exchange said this in an industry overview of the first half of 2021 for institutional investors.

Coinbase is optimistic about the prospect of bitcoin-based exchange-traded funds (ETFs) being approved in the US as early as this year or 2022. The exchange said this in an industry overview of the first half of 2021 for institutional investors.

   "Many large ETF issuers believe that the US Securities and Exchange Commission (SEC) may give the go-ahead to exchange-traded crypto funds in 2021 or 2022. There are a number of reasons fuelling this optimism," the company said.

They recalled that the regulator has rejected at least a dozen applications to list bitcoin-ETFs.

However, in their view, a number of favourable factors have emerged since then for the Commission to register such investment instruments:  


  •     The new SEC leadership, led by Gary Gensler, which is seen as more favourable to the cryptocurrency market;
  •     the increased presence of institutional players in the industry;
  •     the growth of the digital gold futures market to the figures cited by the regulator as a benchmark;
  •     the successful debut of a bitcoin-ETF in Canada.


The company stressed that the approval of exchange-traded bitcoin funds would be a "landmark moment for the industry", unlocking an influx of new funds from previously inaccessible channels such as broker-dealers or tax-advantaged accounts.

Coinbase also expects ETF issuers to take advantage of its storage, stacking and trading services, which will generate additional revenue for the company.

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Hi there, my name is Zalman Weinberg. I'm enthusiast with over 7 years of experience in cryptocurrencies and blockchain. Professional Trader providing Blockchain solutions to Startups and Enterprises. Expert in all cryptocurrency exchange APIs (BitMEX, Bittrex, Binance, Bitfinex, Kraken, Poloniex, Gdax etc.). I have also worked with multiple Forex broker APIs.

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