ETF is Unlikely: Demand is growing for the establishment of a crypto ETF or exchange-traded fund. Just yesterday major exchange Bitwise joined the fight and filed a proposal[1] to the SEC for an ETF.
But despite the desire for an ETF, Brian Kelly – CEO of BKCM[2]; an independent investment firm specializing in cryptocurrency and blockchain-focused investment opportunities has expressed his opinion that it might not be possible in 2018.
“I also hope there is an ETF. But I think the chances of a bitcoin ETF in 2018 are relatively low. There is still quite a few things. That doesn’t stop speculation on that. That’s one reason why we’ve seen this bottoming process here from $5,800 to $8,500.”
And his opinion is mirrored elsewhere too, as Bob Pisani, a CNBC business expert, also suggested that the higher authorities of SEC are unwilling to pass a proposal for a Bitcoin ETF any time soon. He hinted that the authorities are taking a “go slow” approach towards the establishment of a bitcoin ETF.
ETF is Unlikely – Why Are the SEC Moving Slowly?
The SEC’s reasoning is that the coin still has many unresolved concerns that affect an ETF being established. The body needs more time to asses these concerns which, more specifically, surround security and transparency.
It announced that it would “designate a longer period within which to issue an order approving or disapproving the
