Hi everyone I'm Rose Marie Miller here with Stephen Erlich, the director of Forbes

Digital Assets here to tell us about the SEC possibly approving Bitcoin E.T.F. applications as soon as this Wednesday.

Thank you so much for joining me today, Steve.

Thanks, Rosemary.

Absolutely.

So, Steve, why do people think one is going to be approved as soon as this

Wednesday?

Right, so it kind of comes down to the SEC's calendar.

Typically when an issuer applies to to launch an EDF

the SEC has up until 240 days to give a go and no-go decision. Many times it doesn't get that far. The SEC will approve something

before then or if the issuer or a proposed issuer senses that they're not going to get

approval, they will withdraw the

application before they actually get the formal rejection. And that's happened

over and over again for Bitcoin.

Going all the way back to 2013 when Tyler and Cameron Winklevoss of Facebook Fame tried to

launch the first spot Bitcoin EDF, There's been dozens of potential of potential products that

have gone before the SEC and the SEC every single time has whacked them down, has rejected them claiming pretty much that they

don't trust the underlying spy of the Bitcoin market.

They claim that the market is not free from fraud and manipulation, which is obviously an

very important tenant of investor safety. However, things have changed this time

around. It started with a company called Graysscale, which is the asset management arm of

Digital Currency Group, which is a kind of a well-known sort of like crypto polyglat firm for lack or better term.

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