Bitwise CEO: Bitcoin ETF Still Coming as SEC Concerns Largely Solved
Marie Huillet's original article for cointelegraph.com reduced by 42%
The CEO of crypto index fund provider Bitwise Asset Management says he's still positive about the prospect of United States regulators approving a crypto exchange-traded fund. As reported, Bitwise filed its latest ETF application with the United States Securities and Exchange Commission in January of this year. Even though Bitwise has made multiple rounds of different ETF applications, he noted there has been a huge amount of progress in the last twelve months.
While several crypto ETF and similar investment vehicles already exist in Europe, most of the expectation globally rests on the U.S. greenlighting such products. "A key aspect to a Bitcoin ETF in the U.S.
is that it unlocks the financial advisor marketplace. So far crypto has focused mostly on retail investors or institutional investors Half the money in the U.S. is managed by financial advisors, and right now it's very difficult for them to access that market." With the SEC continuing to delay over multiple ETF proposals, many in the community await their prospective launch as a potential "Holy grail" that would herald the widespread adoption of cryptocurrencies as a regulated and passive investment instrument.
Bitwise's own application with the SEC proposes a crypto ETF tracking the Bitwise HOLD 10 Private Index Fund, a basket of ten cryptocurrencies.
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