Todd Rosenbluth, the senior ETF and mutual fund researcher at research firm CFRA says that the wait for Bitcoin futures ETF (Exchange-Traded Funds) could be longer for crypto investors.
On October 12, during CNBC’s event “ETF Edge,” he said that the Bitcoin futures ETF would most likely be the first ETF to gain approval. However, he said that the current regulatory tension could lead to further delay in approval.
There are over 20 crypto asset-based ETFs lined up for Securities and exchange commission (SEC) approval. Investors are eagerly waiting for the approval, but the regulatory body keeps on passing it on different occasions.
Rosenbluth believes that the SEC might be waiting for all these products to find their way to their goal. This will let them get approved at the that time to avoid the first-mover advantage.
Jan Van Eck talks about SEC concerns over futures ETF
Jan Van Eck, the CEO of Van Eck Associates, said that in addition to the tension of the possibility of funds getting too large, the SEC is also concerned about the price of actual king coin, BTC, and the futures ETF.
Van further added that the BTC could overpower futures strategies by 20% per year during the bitcoin rally. He also said that the SEC needs some level of visibility in the underlying Bitcoin markets to get itself assured.
Van further said that the regulators are aiming to have more control over crypto trading. The recent threats to Coinbase and its stablecoin lending products by the regulators is one of the attempts.
Binance is also suffering from heavy regulatory pressure, which resulted in halting its services in different countries, including South Africa. Many popular crypto exchange platforms like Robinhood have already been controlled and listed as broker-dealers.
The speculations by experts in a negative direction can lead the BTC price to go down as many institutional investors, and giant whales might have bought the coin in anticipation of the BTC futures ETF approval this month.
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