{[{item.pair.split("_")[0]}]} ${[{item.price.toFixed(4)}]}
{[{item.change24}]}%
{[{item.change24}]}%
+ Become a member of Interactive Crypto
+ Create a FREE Interactive Crypto Account to Access Premium Content
We’re sorry, but the content you are trying to access is for members only.
CREATE ACCOUNT
August 15, 2019 |
Darryn Pollock | 0 Comments|252 Views
Get Into Cryptocurrency Trading Today
The CEO of crypto index fund provider Bitwise Asset Management says that even though the SEC is still not jumping at the chance to allow for a Bitcoin ETF, he is positive about it eventually coming through. Bitwise was one of the companies that recently had their application delayed until October.
Bitcoin ETFs have been in the works in the US since 2017 when the Winklevoss brought the first application forward. The SEC has denied many applications since then, including twice with the Winklevoss twins. However, their reasoning has always been clear, and also remained pretty consistent over the two and a half years.
The SEC has concerns over the manipulation and volatility of the cryptocurrency market, which all ties to its maturity. That being said, many feel that the market has matured at a rapid rate and should be up to standard now for the SEC. In fact, Bitwise CEO Hunter Horsley thinks that there are big enough advancements to make the SEC change its tune.
The SEC has, in the past, taken its time in deciding if it will allow a Bitcoin ETF through, or not. The result has always been negative thus far, but the fact that they usually delay the decision leads many to feel that a positive decision is close at hand.
Recently, three more applications were delayed by the SEC, including Bitwises, but this has only spurred Horsley to react positively. He said, in an interview alongside his global head of research Matt Hougan, that the company is remaining positive on their application.
Another reason that the CEO is remaining positive has to do with the effect that a Bitcoin ETF would have on the Bitcoin market. Many have called it the holy grail for Bitcoin investing as it would allow for a whole new sector of traditional investors to enter the market.
“A key aspect to a Bitcoin ETF in the U.S. is that it unlocks the financial advisor marketplace. So far crypto has focused mostly on retail investors [...] or institutional investors [...] Half the money in the U.S. is managed by financial advisors, and right now it’s very difficult for them to access that market,” said Hougan.
Because the SEC has never hidden their reasons for denying and delaying applications, and have had the same issues throughout this process now going on for almost three years, it is easy to predict if things have changed.
For Horsley, his positivity is based on a few key examples which prove that the market has indeed matured.
Susquehanna International Group, one of the bigger players when it comes to trading traditional investments like stocks, options, and ETFs, has had a Bitcoin trading desk in operation for a while now. This is a big advancement as it shows a cross over of traditional and crypto.
Additionally, the general market health is also improved, with better arbitrage and new spreads and there is even high-end insurance entering the cryptocurrency space as Lloyds of London now provides cover against theft of cryptocurrencies.
All COINS
TRENDING
WATCHLIST
Market Cap {[{ marketcap }]}
Symbol
Price
Change
Chart
Trade
{[{ item.pair.split('_')[0] }]}
${[{ item.price }]}
{[{ item.change24 }]}
{[{ item.change24 }]}
Market Cap {[{ marketcap }]}
Symbol
Price
Change
Chart
Trade
{[{ item.pair.split('_')[0] }]}
${[{ item.price }]}
{[{ item.change24 }]}
{[{ item.change24 }]}
Despite SEC’s Delay Tactics, Bitwise Positive on Bitcoin ETF
The CEO of crypto index fund provider Bitwise Asset Management says that even though the SEC is...
Neo announces a Devcon partnership with Microsoft
Neo NewsNeo announces a Devcon partnership with MicrosoftNeo is a cryptocurrency that was...
Vantagefx
VantageFX is a leading Australian forex broker that specializes in ensuring the complete and...
Bitcoin a bulwark against crises
Faced with the Bitcoin phenomenon, the world of economists is shared.Many people have long been...
Coinbase Rumored to Go Public
Coinbase, one of the most successful cryptocurrency companies, is headed for a public offering....
1 DOGE to USD | What is Dogecoin, Exchange Rates?
Dogecoin (DOGE) is, according to the official website, a decentralized and “open-source...
Plus500
Risk warning: 80.5% of retail investor accounts lose money when trading CFDs with this...
EOS Price Soars by 30% as eosDAC Release Date Approaches
While cryptocurrencies have seen a severe slump in their values during last few months, against...
Best 10 Cryptos to Invest in 2020
Investing in crypto takes time. Besides being a new medium of exchange, several coins available...
Free & Fast BTC Mining
The more Bitcoin becomes popular, the more miners it attracts. Mining the coin comes with...
Should I Sell My Altcoins for Bitcoin?
What Are the Disadvantages of Bitcoin?
Does Apple accept Bitcoin?
Can I buy house with Bitcoin?
Can I transfer Bitcoin to my bank account?
Is Ripple The Cryptocurrency of 2018? - In Depth Review of Ripple XRP
What Is Ripple? / DefinitionRipple is a name for a cryptocurrency denoted by Ripple XRP and it's als...
Is IOTA Going to Overtake Bitcoin and Other Cryptocurrencies? - IOTA (MIOTA)Review
Verge Review
Binance Review
Dogecoin Review
LegacyFX
Many forms of cryptocurrency and altcoin trading are available in today’s financial markets. A...
Excentral
Risk warning: CFDs are complex financial products. They have a speculative character. Trading in...
EagleFX
EagleFX is one of the latest forex trading brokerages to join the sector. It got founded back in...
Vantagefx
VantageFX is a leading Australian forex broker that specializes in ensuring the complete and ful...
Xtrade
Xtrade is one of the most popular financial trading sites in the world. Started over a decade ago, t...
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
Cryptopay.me
Updated, Apr 04, 2020 Cryptopay is a revolution for Bitcoin users. This platform offers its custo...
Mycelium
MyCelium is an application for Mobile that offers many possibilities of security and confidentiality...
COMMENTS
0 Comments
Like this article