Home Bitcoin News 'I'm still very bullish' on a pure-play bitcoin ETF in early 2022, Gemini executive says – CNBC

'I'm still very bullish' on a pure-play bitcoin ETF in early 2022, Gemini executive says – CNBC

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A pure-play bitcoin exchange-traded fund will not be as far off as some suppose, in response to one cryptocurrency government.

With its approval of three bitcoin futures ETFs, the Securities and Trade Fee signaled that it’s embracing crypto as an investable asset class, Gemini’s David Abner instructed CNBC’s “ETF Edge” this week.

“The SEC is taking these progressive steps to maneuver us ahead,” stated Abner, who’s international head of enterprise improvement on the crypto trade.

“I assumed we have been going to be there by the top of this 12 months,” he stated, including that he was stunned that the SEC rejected VanEck’s bid for a bodily bitcoin-based ETF.

“I am nonetheless very bullish,” Abner stated. “I feel they’re simply form of ready to take that subsequent step. They’re doubtlessly in search of some higher, clearer regulatory pointers across the trade, so possibly we see that in Q1 after which we see an ETF proper after it. I feel there’s a little bit little bit of motion in that route.”

ETF Tendencies CEO Tom Lydon was much less optimistic in regards to the SEC’s timeline however flagged a number of catalysts that would profit hopeful ETF suppliers.

“For the common advisor on the market that’s managing a diversified portfolio for his or her shoppers, not with the ability to purchase bitcoin or a spot bitcoin ETF on a brokerage platform is considerably of a handcuff,” he stated in the identical interview.

“In case your shoppers go rogue they usually go off and open up a Coinbase account, they doubtlessly might shoot themselves within the foot so far as the volatility,” he stated.

With many anticipating the value of bitcoin to rise to $100,000 in 2022, “glowing demand” might give option to louder requires ETFs that immediately monitor the digital asset, Lydon stated.

“I feel that is one thing that the advisor neighborhood is pushing for. I feel we’ll finally see it. I want it was going to be Q1 however I might say fingers crossed by the top of ’22,” he stated.

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