Hope For a Bitcoin ETF Burns Eternal | ETF Trends

After a slew of disappointments, hope for an exchange traded fund linked to bitcoin remains persistent. A recent solicitation from the Securities and Exchange Commission (SEC) is stoking speculation among crypto market observers that a bitcoin ETF could come to life.

“Just days after Cboe resubmitted its proposal in support of the Van Eck and Solid X Bitcoin exchange-traded fund (ETF), the Securities and Exchange Commission in the United States has urged businesses to offer data and information regarding the common blockchains to ensure that ‘there is no loss in data completeness and accuracy due to the data transformation tools and processes applied,’” reports FXStreet.

Some digital currency market observers have long viewed U.S. approval of a bitcoin ETF as pivotal to increased adoption of the cryptocurrency.

In 2018, bitcoin shed almost 80% of its value. Among the issues plaguing bitcoin; last year were the ongoing unwillingness of U.S. regulators to approve bitcoin-related exchange traded funds as well as data indicating that mainstream acceptance and adoption of the digital currency are declining.

“Provide blockchain data to support the SEC’s efforts to monitor risk, improve compliance, and inform Commission policy with respect to digital assets. The SEC is seeking information for potential sources to support the goal of acquiring data for the most widely used blockchain ledgers, including the universe of available information and transaction details,” according to the SEC solicitation.