What will it take for the US SEC to approve cryptocurrency ETFs?

Colleagues, the US SEC maintained its tough stance when it comes to its approval or denial of cryptocurrency ETFs when it refused to grant approval of two new funds submitted by NYSE-based Arca. The Cryptocurrency Academy knows that the US SEC, similar to the Federal Reserve Board, views cryptos as highly speculative investment vehicles. The underlying issue is that both the SEC and the Fed are not convinced that Bitcoin and its sibling Altcoins are bona fide “securities”. Neither of the two Arca proposals would hold “tangible crypto tokens”. Moreover, they are based on crypto “futures”. The combination of these two facts is a non-starter from their perspective. So what are potential crypto investors to do? We see two options. First, invest directly in the cryptocurrencies of choice. And second – as we have commented on over the past few months – invest in the underlying Blockchain software firms. Bottom line: We maintain our prediction that within the next 24-36 months as cryptos gain maturity and market adoption along with strict governance the SEC will much more positively predisposed to approve crypto-related funds. Share your thoughts today! Lawrence – Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com/)