Home Bitcoin News Bitwise CIO Lays Out Argument for Bitcoin ETF Coming in 2022

Bitwise CIO Lays Out Argument for Bitcoin ETF Coming in 2022

3 min read
Comments Off on Bitwise CIO Lays Out Argument for Bitcoin ETF Coming in 2022
158

The chief funding officer for Bitwise Asset Administration has laid out his argument for why a Bitcoin exchange-traded fund (ETF) will get the greenlight from regulators later this 12 months. 

Talking in an interview with CNBC’s ETF Edge, Bitwise CIO Matt Hougan claimed to be optimistic that the U.S. Securities and Change Fee (SEC) will approve a Bitcoin ETF earlier than the tip of this 12 months.

Hougan argued that there was no vital distinction in fraud danger between Bitcoin and different commodities, saying there are “definitely situations of fraud and manipulation” in all markets. 

As reported by The Each day Hodl, Hougan defined, 

I don’t assume they’re materially worse within the Bitcoin market and so, if the identical requirements are utilized to grease, pure fuel, gold, silver, et cetera, which have allowed ETF to launch in these commodities if those self same requirements are utilized to Bitcoin and different crypto property.




Hougan mentioned the standard of filings round Bitcoin ETFs had “improved dramatically” over the previous 12 months, with a number of firms along with Bitwise offering federal regulators with a lot of information to reply their questions. 

The CIO predicted that the “cumulative weight of proof” being put forth by the business would pressure the SEC to maneuver ahead with an approval. 

Based on Hougan, a Bitcoin ETF shall be “nice for traders” as a consequence of offering extra protections and main to higher market merchandise:

It’s going to dramatically decrease costs to entry the crypto market that might save folks billions of {dollars} over the long run, so I’m very hopeful we get it this 12 months.

Disclaimer

The views and opinions expressed by the creator, or any folks talked about on this article, are for informational functions solely, and they don’t represent monetary, funding, or different recommendation. Investing in or buying and selling cryptoassets comes with a danger of monetary loss.

Picture Credit score

Photo by person RoyBuri by way of Pixabay.com


Source link

Load More Related Articles
Load More By admin
Load More In Bitcoin News
Comments are closed.

Check Also

'October 2022's High 5 Altcoins' – @standardnews … – Newest Tweet by Litecoin – LatestLY

‘October 2022’s High 5 Altcoins’ – @standardnews #MondayMotivationhttps:…