ETF for the cryptocurrency does not affect Bitcoin. Expert opinion from a representative of eToro

Cryptologist eagerly waiting for the Commission on securities and stock exchanges of the USA in the end will approve the ETF for Bitcoin. But will it happen someday? Despite the high hopes of the majority, some people do not believe in the prospects of the impact of the tool on the fate of a decentralized currency in case of its approval. Senior market analyst, Mati Greenspan eToro adheres to similar beliefs.

The expert shared his opinion.

The situation with the approval of the ETF, which only confirms the government’s willingness to approve what banks are already doing. I don’t think Bitcoin is somehow concerned.

He also referred to the application for the approval of the ETF from the Bitwise Asset Management. According to him, in this case there are at least two important moment.

First, it sheds light on the “market manipulation” and “wash trading”, which the SEC is paying close attention. Like last month, said the Chairman of securities Commission J. Clayton, they just stood by and monitored the situation, seeing the presence of these two problems. Second, Bitwise also introduced a new metric, Net Asset Value, which is based on figures provided by the ten cryptobinary with “real trading volume”.

As Greenspan notes, the careful study of the application Bitwise puts in first place among contenders for the earliest approval of ETF. In addition, we should not forget about some of the permutations of the Committee members, after which many began to watch for free with new optimism.

When the SEC will approve the ETF for Bitcoin?

Following a hearing on ETF is scheduled for may 19, 2019, but Greenspan was convinced that the Commission will again postpone consideration. Agrees with him and the representative of the Commission court proceedings in securities, Kobre & Kim Jake Chervinsky. In his opinion, ultimately applications for the ETF will begin to approve around mid of October this year.

The current exchange rate of Bitcoin can be found in our classroom ranking of cryptocurrencies. And cryptodata holders you’ll find lots of other useful information.

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