BITCOIN ETF COMING ‘SOONER RATHER THAN LATER,’ SAYS BITWISE

in #cryptocurrency • 7 years ago

 While the price of Bitcoin continues its downtrend, it’s safe to assume that institutional investors are waiting for the holy grail of all catalysts: a Bitcoin exchange-traded fund. According to one expert, you can see the prized ETF on the horizon — if you squint hard enough and get out your binoculars.  

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America securities and exchange commission continues to pull its feet in regards to a bitcoin or cryptocurrency trade-traded product. But, bitwise asset control’s global head of change-traded merchandise, john hyland, believes we’ll be seeing the important marketplace catalyst “sooner rather than later.”

When requested by means of ETF.Com approximately the chance of seeing a bitcoin or cryptocurrency etf in the near future,  Hyland responded: 

 I think we get them sooner rather than later. But I also think that if we don’t see any action by the SEC in the next two months, we’ll jump to 2019 and beyond. I don’t see the SEC going from red light to green light anytime near the midterm election. 
It’ll make them gun-shy.I handicap the odds of a U.S. ETP in crypto as follows: 20% chance in 2018; 60% chance in 2019; and a 20% chance beyond 2019. 

Ready until subsequent year won't seem like an appealing prospect to the ones keen to peer bitcoin once more cross parabolic,   institutional investors  are not likely to go into the cryptocurrency marketplace with out proper regulatory measures and hand-maintaining.

 That said,   as soon as the primary bitcoin etf receives authorized, it'll be off to the races for other cryptocurrency services. Defined hyland:

 …from the regulatory standpoint, if you’ve accepted the argument that a futures-based bitcoin product can be declared effective, on what grounds do you then turn around and deny the next three or four issuers?Everybody who has the same outline of a product is going to probably be declared effective in roughly the same small time frame. 

 Once the floodgates have opened, Bitcoin may finally change direction. 

 do you think we’ll see a Bitcoin ETF in 2018, 

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#bitcoin #blockchain #money #crypto
7 years ago in #cryptocurrency by
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