The financial expert and the founder of Edelman Financial Engines consulting firm Ric Edelman expressed opinion that the traded exchange-traded funds for bitcoin (ETF) will appear at some point. He is sure that such funds will be approved, a question only in when it occurs.
“The U.S. Securities and Exchange Commission (SEC) has to consider some more problems which it is necessary to overcome the industries, but I am sure that they will make it. Eventually, we will see exchange-traded funds for bitcoin and when it happens, it will be much simpler to me to advise ordinary investors to enter the industry”, – Edelman said.
Let’s note that, in essence, ETF are securities which trace several assets which are contained in fund. Many representatives of the cryptocurrency industry expect start of ETF of bitcoin as “sacred Graal”.
“Recently Fidelity made the big statement about storage of assets. We already have a Kingdom Trust company and other very serious players who can store assets. I am sure that in the nearest future VanEck or Bitwise will also start the custodian services”, – Edelman emphasized.
Earlier similar point of view was expressed by the commissioner of SEC Robert Jackson Jr. The member of the commission expects that the next application for ETF of bitcoin will conform finally to all necessary standards established by the agency.
At the same time the commissioner of SEC Hester Peirce considers that the delay of introduction of cryptocurrency regulation can give more freedom for the industry and give it an opportunity to develop independently.