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September 26, 2023

Former SEC Official: Bitcoin ETF Approval Will Not Happen Soon, Could Occur After 2024

The possibility of a bitcoin ETF being approved by the US Securities and Exchange Commission is not likely to happen soon, according to former SEC Commissioner Troy Paredes. In an interview on the Decrypt Daily podcast, Paredes said that he believes it is not possible for a bitcoin ETF to be approved anytime soon. However, he did say that if the markets are able to mature more and regulators become more comfortable with the underlying assets, then the approval could come after 2024. Paredes argued that for now, the SEC has more pressing issues to worry about and approval of a bitcoin ETF would not necessarily be a priority. Paredes also noted that there are still a lot of questions that need to be addressed, such as valuation, custody, and how to ensure fair prices, which could take some time. He added that until those questions are answered, the SEC is likely to wait before considering a bitcoin ETF.