Bitcoin SolidX ETF awaits SEC approval

VanEck is leading the charge behind the launch of the first bitcoin exchange-traded fund (ETF).

Gabor Gurbacs, director of digital asset strategies at VanEck, told FOX Business that he is hopeful the crypto startup SolidX will receive approval from the U.S. Securities and Exchange Commission (SEC).

“We are the closest that we can be,” he said during an exclusive interview on “Countdown to the Closing Bell” on Wednesday. “It is very clear to me that America wants a bitcoin ETF and we are here to build it.”

The SolidX ETF is insured and physically-backed by bitcoin, priced by VanEck’s regulated subsidiary pricing source, MVIS.

“We are waiting for the sign of approval for this ETF because it meets every requirement that commodity type of fund would need,” Gurbacs said.

Just about every cryptocurrency from Ripple, Ethereum and Litecoin have faced an uphill battle with traditional bankers and market regulators.

JPMorgan Chase Chairman & CEO Jamie Dimon was recently asked if he had changed his mind about bitcoin after expressing his distaste for the cryptocurrency.

“I didn’t want to be the spokesman against bitcoin. I don’t really give a sh**, that’s the point, okay?”, Dimon said while speaking at an Axios conference in Los Angeles on Tuesday.

Dimon has been a staunch critic of the cryptocurrency once calling bitcoin a fraud which he later told FOX Business’ Maria Bartiromo that he regretted making the statement.

Billionaire investor Warren Buffett and Berkshire Hathaway Vice Chairman Charlie Munger have slammed the digital currency by comparing the cryptocurrency to “rat poison” and “turds.”

“I say bitcoin is digital gold and we should not dismiss a potential opportunity for the next financial system,” Gurbacs told FOX Business’ Liz Claman.

The famed Winklevoss twins for years have had their ETF proposal rejected by the SEC.

October 31, bitcoin marked the 10th Birthday of the world’s leading cryptocurrency.