Gabor Gurbacs commented on the first Bitcoin ETF to be released, and said the buyer would pull a few billion dollars.

“ETFs will increase the corporate dollar coming to the Bitcoin industry.”

Gurbacs, director of the VanEck digital assets strategy, shared the forecast of the rise while explaining the possible consequences of a successful Bitcoin ETF in CNBC’s Crypto Trader program. He added that in order to maximize investors ‘ protection and minimize counter-party risks, ETFs would be better and would increase the corporate corporate bond to the Bitcoin industry through securities.

The U.S. Securities and Exchange Commission (SEC) rejected a 9-Bitcoin ETF application citing investor protection. Only the ETF application submitted by the VanEck-SolidX duo has been examined, and this ETF decision will be announced by March 2019.

“A gold ETF has the same safety features as the upcoming Bitcoin ETF in VanEck.”

Market observers believe that VanEck, an experienced investment management company with long-term professional relationships with U.S. regulators, takes all SEC’s concerns into account. Speculators have pushed investors to believe that by taking advantage of the opportunity to invest in fully insured physical Bitcoin contracts, they will increase market volume to the highest level of all time.

Gurbacs said the new security around Bitcoin financial instruments would be more compatible with conventional ETFs. For example, a gold ETF has the same security features as the upcoming Bitcoin ETF in VanEck. The same can be true for the second, given that the SEC has already approved the Gold ETF. Gurbacs says::

Our gold ETFs are already in the range of several billion dollars. They also have Gold ETFs worth $ 10 billion. I wouldn’t be surprised if Bitcoin ETF was within the range of a few billion dollars.

SEC rejects Bitcoin ETFs due to the manipulation of the market

The manipulation of the bitcoin spot market was one of the most important reasons behind SEC’s rejection of Bitcoin ETF. Gurbacs has said that there have been some manipulation in every market right now-noting that a few days ago the JPMorgan trader has manipulated commodity and precious metal markets for seven years. Furthermore, the vankeck strategist announced that the SEC has no authority to regulate spot markets.

Gurbacs also announced that they have taken corporate-level security measures, starting with the unchanging pricing resources combined with standard market tools to reduce manipulation. Gurbacs says::

There is a concern if there is market manipulation. We’ve done everything we can do.

VanEck, an experienced investment management company with long-term professional relationships with SEC, considers that he takes into account all the concerns the U.S. securities regulator has to offer. So ETF is expected to go through the editing process, which will lead to a launch on March 1 next year.

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