Tom Lee, a great man of Fundstrat, said in an interview with the BlockTV that the Bitcoin first time to the $150,000 has to be in order to be eligible for an ETF. In this case, the asset, according to him, the cash and cash sufficient for the exchange-traded fund.
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Bitcoin ETF
This implies, of Thomas Lee, is that it still can take a while before we see the first Bitcoin ETF will be.
In contrast to the masses, he is happy with the approach of the united states Securities and Exchange Commission (“SEC”). The SEC is often accused of it, the growth of the cryptomarkt interfere with their cautious approach.
Lee is, however, this can be a good approach. According to him, the private sector and institutional investors will be protected from possible scams.
Read more: Bitcoin ETF, the cryptomarkt it is necessary?
According to the head of Fundstrat the institutional investors to the market as soon as well regulated. In so doing, the SEC is actually exactly what it is. However, the Us policy-makers to ensure that the industry is too slow to develop.
“An ETF is most likely the first of the year to nearly $13 billion in generation, and with the current offer, there will be an imbalance is created.”
He thinks, however, that the SEC will soon have a BTC-based fund that will accept them. One of the reasons why the regulator does, is that the size of the market. At present, the market cap of Bitcoin is less than $150 million.
Lee estimates that the largest cryptocurrency, the price of $150,000 have to reach for cash to be enough in order to be eligible for an ETF.
S) and ETF’s
The SEC has so far been evident in her point of view. It means U.s. investors, provisionally, the way of Bitcoin ETF’s. Earlier this month, the financial supervisory authority, a proposal from the Bitwise down.
The application of the VanEck SolidX has been withdrawn, and the judgment in the case of This system is to be deferred.
However, there is a new ETF coming out. The former executive director of the World Gold Council and is the portfolio manager behind the SPDR Gold Shares, is developing a bitcoin exchange-traded fund (“ETF”) with the investment manager, Kryptoin Investment Advisors.
The cayman islands-based company has a registration statement filed with the U.s. SEC.
The fund, which has been two years in the making, the chicago mercantile CF, Bitcoin Reference Rate to track the price of bitcoin again.
Source: Bitcoinist, Coindesk
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