Reggie Browne, known as Godfather of ETFs, told Business Insider that the BTC Stock Exchange funds ( BTC ETFs) were not possible in the short term.
Browne is the director of EFT trade at Cantor Fitzgerald, a financial services firm. Established in 1945, Cantor Fitzgerald, a well-established company, continues its activities focused on corporate capital, fixed income sales and trade. The company is reported to have more than 5,000 corporate customers, including investment banking, private brokerage services and commercial real estate.
Browne, Georgetown University, Washington D.C.C.he believes that BTC ETFs will be approved after the development of a strong regulatory framework in the cryptographic industry. We can summarize Browne’s views on the current status of BTC ETFs as follows::
It seems difficult for the Securities and Exchange Commission (SEC) to approve BTC ETFs at this time because of insufficient data in their hands… the crypto markets are not yet at the expected level.
Similar opinions from important names on BTC ETF
There is also a similar statement today from Larry Fink, CEO of the Investment Management Company BlackRock. Commenting on the future of crypto money ETFs, Fink claimed that the ETFs should eventually be supported by a government and would not approve such a financial instrument unless he was sure that a government was not used for illegal activities.
Bill Barhydt, CEO of Krypto payment initiative firm Abra, believes the reason for SEC’s rejection of krypto currency ETFs is because the Krypto industry does not comply with the model of becoming a candidate for these assets.
In August, SEC temporarily refused nine practices to list and trade various BTC ETFs from three companies, including ProShares, Direxion and GraniteShares. The regulator had previously rejected a BTC ETF application by Tyler and Cameron Winklevoss. The SEC later defended his rejection by saying “the commission’s views do not support such a result”.
Will BTC ETFs increase the market first and then damage it?
The rebirth of crypto money may be attributed to a naked like ETF, perhaps one of the factors of stagnation. ETF, which is still on the agenda of the market, seems to keep its agenda in 2019. On the other hand, crypto believes that money ETFs will not have the expected impact or that corporate funds that will enter the market in this way will adversely affect the small investor.
What are your views on this? What level does an approved BTC ETF carry the market? Or is this a negative result for small investors?