Bitcoin exchange-traded funds (ETFs) seem to be everywhere right now – and also a big factor that is pushing the price of Bitcoin forward.
Shifting from a possibility to a probability, the concept of a Bitcoin exchange-traded fund (ETF) is something that waits for approval. One asset manager recently predicted that 2019 is the most realistic date of approval.
If you are new to the Bitcoin ETF concept, it is basically any fund (mutual, hedge) that is traded on a listed exchange. ETFs are basically trading on SEC or CFTC-regulated assets and currently, many or most cryptos are not recognized as any of these. The unregulated nature of the digital assets is the one factor that influences the reticence of the SEC to allow their approval.
Right now, it is the actual timing of the ETF approval which concerns most of the people. Even though most of the key players in the ecosystem don’t see an ETF as an absolutely necessary factor for the development of Bitcoin, most agree that it would have a short-term effect whenever it happens – or think that it can be the catalyst that the market is waiting for before the next phase of a bullish run.
Michael Graham CFA and Scott Suh are the two asset managers that note that the arrival of a Bitcoin ETF remains top of mind for institutional investors that seek exposure to the emerging asset class. According to the due, there would be a shift in the deadline – which is why they are suggesting 2019 as the probable year when Bitcoin ETFs will go live.
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