In an interview with Roll Call, U.S. Securities and Exchange Commission (SEC) Commissioner Robert J. Jackson Jr. said that he expects an applicant to eventually meet the regulatory requirements for a cryptocurrency-based fund.
"Eventually, do I think someone will satisfy the standards that we've laid out there? I hope so, yes, and I think so," Jackson said, per Roll Call.
So far, several attempts to list an exchange-traded fund based on Bitcoin have not been approved. But many believe that such a service could garner mainstream investment.
Ahead of announcing an official strategy for leveraging blockchain technology more widely, the German government has opened a process for receiving recommendations around the technology from local companies and industry groups. Germany is Europe's largest economy and Berlin is home to numerous blockchain startups. The solicited recommendations could lead to official legislative action in the near future.
ICOs emerged quickly as a popular model for crypto startups to raise funds, exposure and customer interest. But the world of ICOs took a nasty turn in 2018, with many projects that used the model unable to deliver on their promises to investors or turning out to be downright phony.