The Bitcoin price needs to be around $ 150,000, to be for an “Exchange Traded Fund” (ETF) cash and cash enough. This view is Tom Lee of the Fund, expressed, joined, now, in a Interview with BLOCKTV.
Contents
Bitcoin ETF is still years away?
A Bitcoin ETF, we are joined according to Thomas Lee, co-founder of the market research company Fund, still a few years away.
Contrary to popular belief, the American “with the Securities and Exchange Commission” (SEC) hindered the progress of the cryptocurrency market, praised Lee, the regulatory authority even for their ability to control the emerging industry and to protect institutional and private investors from potential scams.
The Fund stepped-Director of research according to institutions would be attracted by an appropriately regulated market. In this respect, the SEC is actually doing a Favor. Nevertheless, the US could have caused injury to regulatory authority, the industry, should they have developed too slowly.
Lee is convinced: The most important thing that will make Bitcoin for institutions attractive, is the creation of an ETF. He does not believe, however, that the SEC will approve in the near future a BTC-related funds. One of the reasons why the regulatory authority is reluctant to be bitcoin market size. Currently, the market capitalisation of the oldest digital currency is below $ 150 billion.
Lee estimates that the largest crypto-currency needs to be traded to the market capitalization at not less than 150,000 US dollars, in order to be liquid enough to support an ETF.
An ETF is expected to generate in the first year, nearly $ 13 billion in the demand and the is a massive demand imbalance in the available supply.
The SEC maintains its position
The SEC seems to be very determined, Bitcoin, ETFs for the time being of U.S. investors to stay away. At the beginning of the month, the US Financial watchdog had rejected a Bitwise Asset Management proposed Bitcoin ETF. Strangely enough, the Bitwise-leadership expressed the hope that the SEC would approve the listing finally – however, this is not going to happen.
Nevertheless, ETF providers do not lose hope. The asset Manager Kryptoin Investment Advisors has recently submitted a request for a BTC ETF with the SEC, which followed the CME CF the Bitcoin reference rate. The company is supported by the former managing Director of the “World Gold Council”.
Text evidence: Bitcoinis, ANATOL ANTONOVICI