Finally We Will See Bitcoin ETF


Bitcoin (BTC) Exchange Traded Fund (ETF) surely comes in the market soon said by the financial expert Ric Edelman, founder of advisory firm Edelman Financial Engines in an interview with CNBC on 11 Feb.

Edelman stated that Bitcoin ETF is certain the only question is when: 

“The SEC has several legitimate thoughtful concerns that the industry has to overcome but I’m confident they will. Eventually, we will see a bitcoin ETF and it’s at that stage that I will be much more comfortable recommending that ordinary investors participate.”

An ETF is a security that keeps track of the basket of assets proportionally represented in fund’s shares. ETF is seen as the mass adoption of the cryptocurrencies as a regulated investment instrument for institutional investors.

Edelman adding that the custody issue is almost solved by Fidelity. Big players are on the side of Bitcoin ETF. CBOE or Bitwise will satisfy the terms of SEC.

In the interview, Edelman said that he put Bitcoin in the same class of Oil and Gold. He added that “globally-traded assets beyond the reach of the SEC.”

The Chicago Board Options Exchange’s (CBOE) had withdrawn its request for ETF last month and reapplied to the SEC for approval of Bitcoin ETF.

SEC chief Robert Jackson said in an interview that Bitcoin ETF got approval from the regulators.

Bitcoin ETF will open doors for institutional investors and price will shoot up as more and more investors will start entering into BTC due to ETF. But all ETFs got rejected in the past year 2018 due to low liquidity and volatility of Bitcoin.

The main reason for not getting the approval of Bitcoin ETF is that people still have not enough knowledge of Bitcoin and its technology.

We are in it for you.