One expert, the SEC is expected to accept a Bitcoin ETF within the next 1-2 years.

Spread the love

“We think we’ll see one in the next year or two, but we don’t have a definite timeline for when the response will be yes,” Todd Rosenbluth said.

According to a CFRA Research analyst, VanEck, Fidelity Investments, and Valkyrie Digital Assets’ Bitcoin exchange-traded funds, or ETFs, could not be authorised by US regulators for up to two years.

Todd Rosenbluth, head of ETF and mutual fund analysis at CFRA, told CNBC’s ETF Edge host Bob Pisani on Monday that he hoped the U.S. Securities and Exchange Commission, or SEC, would expand the timeframe for considering the Bitcoin ETF first proposed by investment management firm VanEck in January. On March 15, the SEC acknowledged receipt of the Bitcoin ETF submission, granting the regulatory body until April 29 to make a decision or prolong the deadline.

“We’ve got a number of firms that have either gone through the filing process or have previously filed but are waiting for more clarity,” said Rosenbluth. “The SEC is less likely we think to try to pick a winner, as to who comes first and I think we’re more likely to see them — if they do approve an ETF — to approve multiple Bitcoin-related ETFs.”

He added:

“We’ve got a number of firms that have entered. We think we’re likely to see one in the coming year or two, but we don’t have a firm timeframe as to when the answer would be yes.”

VanEck and Valkyrie both registered with the SEC in January to form a Bitcoin ETF, with Fidelity following in March. The regulatory body has not indicated what it will decide, but considering its apparent reluctance to approve a crypto ETF previously, many analysts do not anticipate a decision anytime soon.

RECOMMENDED READ:  What is the Coinomi Wallet? Absolute Guide

While the United States has not yet authorised a crypto ETF, Canadian companies have been leading the way in North America. Purpose Investments, headquartered in Toronto, unveiled a Bitcoin ETF in February, and Ninepoint Partners is rumoured to be preparing to convert its Bitcoin trust offering to an exchange-traded fund as well. Both hedge fund manager 3iQ and Evolve Funds Group reported that they had sent a prospectus to Canadian regulators in order to begin trading crypto ETFs.

Following the Fidelity filing last month, Rosenbluth said that it is a matter of “when, not whether, the SEC will accept a Bitcoin ETF.” On Monday, he seemed to say that even the approval of one in the United States could theoretically open the floodgates for companies seeking to shape crypto ETFs.

“If they approve anyone, they’re going to approve everyone,” Pisani said.


 164 Interactions,  8 today

How China extends its research of digital yuan this April.

China has been at the forefront of the growth of the Digital Currency Electronic Payment [DCEP], also known as Digital Read more

RECOMMENDED READ:  Bitcoin is on the verge of a significant breakout. according to an analyst ahead of Coinbase's IPO
Flash Loans – Collateral swaps and DeFi lending Explained

Flash loans are a modern kind of uncollateralized lending available from DeFi platforms such as Aave and dYdX. Flash loans Read more

Decentralized Applications (dapps): What Are They?

Decentralized applications (dapps) are automated programmes that run on a distributed network of computer nodes rather than a single server. Read more

SEC’s appeal for financial reports from Ripple executives Garglinghouse and Larsen denied by a judge.

Ripple's motion to retain the records of the new and former CEOs confidential was approved by Magistrate Judge Sarah Netburn. Read more

Web 3.0: The Future’s Decentralized Internet

Few technologies have come close to matching the ease and importance that the internet provides to billions of people around Read more

Non-Fungible Tokens (NFTs): What Are They?

Non-Fungible Tokens Are Transforming Rare Collection Ownership and Exchange Tokenization is ideal for resources such as fiat currency, gold, and Read more

Cardano will launch smart contracts in August, with a focus on the DeFi Boom and corporate use cases.

The Cardano blockchain development team is revealing new information about the launching of its smart contracts. Following the announcement of Read more

Cardano could reach $8 by Halloween, cryptocurrency analyst Ben Armstrong claims.

Earlier this week, crypto expert and influencer Ben Armstrong discussed Cardano ($ADA) in a video posted to his very influential Read more

What exactly is Monero? , Monero (XMR) analysis, experience, benefits, and drawbacks

Monero is a cryptocurrency, a digital product that uses encryption to encrypt transactions. It is the thirteenth largest cryptocurrency by Read more

How Ethereum could reach $10,000 in 2021 and outperform Bitcoin, seasoned trader

Ethereum's "tremendous upside potential," according to experienced trader Scott Melker, could overshadow Bitcoin this year. In an interview, seasoned investor Read more

Is there a ‘revolution’ in Bitcoin mining in the United States?

Bitcoin, the world's first blockchain, was created to address the flaws of the centralised financial structure. PayPal co-founder Peter Thiel, Read more

Leave a Reply

Contact Us