When it comes to people who are looking for a get-rich-quick opportunity, the crypto market has become such an attractive market. For one, it has highly volatile digital currencies that can lose a significant amount of its value in just a short period of time. In fact, it can swing by 20% in just a matter of hours.
However, many are still hopeful that Bitcoin makes it to the mainstream this year. A lot of people are still hoping that the SEC will approve a Bitcoin ETF. The reality is that it is easier said than done. You will need to make sure that you have all the necessary regulations at play before you can have a Bitcoin ETF. A lot of crypto enthusiasts today think that a Bitcoin ETF could potentially lead towards the adoption of crypto since institutions will have an easier time investing in the asset class. But of course, there are hesitations.
One of the biggest hesitations by the US Securities and Exchange Commission is the fact that the market is prone to market manipulation. Pump and dump schemes are quite common. And because of the anonymity that it offers, a lot of regulators are hesitant to have a Bitcoin ETF approved. Surveillance tools are needed in order to make the agency trust the market.