The U.S. Securities and Exchange Commission (SEC) last week issued a rejection to Wilshire Phoenix, a Bitcoin-based trading fund, in a series of companies' efforts to push a Bitcoin ETF fund. through the managers.
However, when shared with US TV stations CNBC, market commentators think this is the end of the long-awaited path.
“I doubt a lot that it will be the last problem,” Chris Hempstead, director of business development organization at IndexIQ, said: “I think people will continue to listen to feedback and notes from the SEC. , what are their ideas and they will continue to resolve it ”.
If market and investor needs provide metrics that are beneficial to Bitcoin, the SEC will probably look at the applications and may draw another conclusion, Hempstead said.
“They may have different perspectives and different considerations,” he said, adding, “I don't think it is a final problem, but I don't anticipate any significant change from the SEC decision.” in the near future”.
Nick Colas, co-founder of DataTrek Research, who said in January that the percentage of Bitcoin ETF approved this year is 10%.
That may appear as a U.S. dollar-backed digital currency, which can create frictionless virtual transactions, but, in many ways, the market already has that, Dan. Wiener, president of Adviser Investments and senior editor of The Independent Adviser, a daily-watched news channel.
“People use Venmo right now. They can move their money around there. It's not a big problem. Do we really need Bitcoin? I am not a drug dealer. “I'm not worried about money transfers,” Wiener adds. “More important is blockchain technology, how businesses use blockchain. Bitcoin or any other currency is just a manifestation of technology. ”
Bitcoin has risen to over $ 9,000 this year after cooling off in late 2019. Bitcoin investors including cryptocurrency investor Michael Novogratz have said that Bitcoin could reach an all-time high on 2020. It is currently trading at $ 8,700 after a 5% decline this morning.
You can see the price of BTC online here.
According to CNBC
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