Regulatory uncertainty could be responsible for further delays in approving long-awaited Bitcoin Exchange Traded Funds (ETF) products.
According to Todd Rosenbluth, Senior Director of ETFs and Investment Fund Research at research firm CFRA, crypto investors may have to wait longer for a BTC futures ETF product.
Rosenbluth. speaks on CNBC’s “ETF Edge” on October 12 explain that the BTC futures product is likely to be the first crypto ETF to gain approval, but regulation could be an obstacle causing further delays.
There are more than 20 exchange-traded products (ETPs) that are based on crypto assets and are awaiting approval by the US Securities and Exchange Commission (SEC), and the regulator does not have to empty it, but instead has to dodge or postpone it again and again.
Rosenbluth suggested that regulators could wait for all of these products to achieve their goals so that they could be approved at the same time to avoid a “first mover advantage”.
“I think we will see the Bitcoin Futures ETF postponed until 2022 until the regulatory environment is clearer.”
Van Eck Associates CEO Jan van Eck commented that the SEC’s primary concern is the discrepancy between the actual price of BTC and the futures price, in addition to the possibility that funds are too large.
When there is a bitcoin rally, futures strategies can perform up to 20% a year worse, Jan van Eck added, adding that “the SEC wants some clarity on the underlying bitcoin markets.”
The CEO also hinted that the regulator wants more control over crypto trading as it threatens legal enforcement against Coinbase and the exchange’s stablecoin loan product. Other popular exchanges like Robinhood are regulated and registered as brokers.
Any speculation about the Bitcoin futures ETF’s lag could affect the price as large investors flocked to Bitcoin in anticipation of the ETF’s SEC approval this month.
BTC was up 37.5% in the past two weeks, hitting a local high of $ 58,000 on October 12, but a delay could disrupt current market momentum.
 BTC price chart | Source: Tradingview
Bloomberg ETF senior analyst Eric Balchunas remains confident that the likelihood of an ETF getting approved this month is 75%.
Earlier this month, the SEC postponed the decision deadlines for four BTC ETFs – Global X Bitcoin Trust, Valkyrie XBTO Bitcoin Futures Fund, WisdomTree Bitcoin Trust, and Cryptoin Bitcoin ETF – by 45 days.
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Regulatory uncertainty could be responsible for further delays in approving long-awaited Bitcoin Exchange Traded Funds (ETF) products.
According to Todd Rosenbluth, Senior Director of ETFs and Investment Fund Research at research firm CFRA, crypto investors may have to wait longer for a BTC futures ETF product.
Rosenbluth. speaks on CNBC’s “ETF Edge” on October 12 explain that the BTC futures product is likely to be the first crypto ETF to gain approval, but regulation could be an obstacle causing further delays.
There are more than 20 exchange-traded products (ETPs) that are based on crypto assets and are awaiting approval by the US Securities and Exchange Commission (SEC), and the regulator does not have to empty it, but instead has to dodge or postpone it again and again.
Rosenbluth suggested that regulators could wait for all of these products to achieve their goals so that they could be approved at the same time to avoid a “first mover advantage”.
“I think we will see the Bitcoin Futures ETF postponed until 2022 until the regulatory environment is clearer.”
Van Eck Associates CEO Jan van Eck commented that the SEC’s primary concern is the discrepancy between the actual price of BTC and the futures price, in addition to the possibility that funds are too large.
When there is a bitcoin rally, futures strategies can perform up to 20% a year worse, Jan van Eck added, adding that “the SEC wants some clarity on the underlying bitcoin markets.”
The CEO also hinted that the regulator wants more control over crypto trading as it threatens legal enforcement against Coinbase and the exchange’s stablecoin loan product. Other popular exchanges like Robinhood are regulated and registered as brokers.
Any speculation about the Bitcoin futures ETF’s lag could affect the price as large investors flocked to Bitcoin in anticipation of the ETF’s SEC approval this month.
BTC was up 37.5% in the past two weeks, hitting a local high of $ 58,000 on October 12, but a delay could disrupt current market momentum.
 BTC price chart | Source: Tradingview
Bloomberg ETF senior analyst Eric Balchunas remains confident that the likelihood of an ETF getting approved this month is 75%.
Earlier this month, the SEC postponed the decision deadlines for four BTC ETFs – Global X Bitcoin Trust, Valkyrie XBTO Bitcoin Futures Fund, WisdomTree Bitcoin Trust, and Cryptoin Bitcoin ETF – by 45 days.
We invite you to join our Telegram for faster news: https://t.me/coincunews
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According to Cointelegraph
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