The number of Bitcoin ETF applications in the US is increasing as the US SEC has yet to make any decision – as of now, there are 19 pending Bitcoin ETF applications.
Many believe that if Bitcoin ETFs get approved, they would make the crypto industry look legit for more people and make it truly mainstream. With 19 of them pending review, it is clear that the industry is ready to take on it.
Meanwhile, countries such as Brazil or Canada are already trading them freely.
SEC Commissioner Hester Pierce declared:
“The complications of not approving [a Bitcoin ETF] become stronger because people are looking for other ways to do the same kinds of things that they would do with an exchange-traded product. They’re looking at other types of products that aren’t as easy to get in and out of, they’re looking at companies, perhaps, that are somehow connected with Bitcoin or crypto more broadly.”