While the price of Bitcoin continues its downtrend, it’s safe to assume that institutional investors are waiting for the holy grail of all catalysts: a Bitcoin exchange-traded fund. According to one expert, you can see the prized ETF on the horizon — if you squint hard enough and get out your binoculars.
Patience is a Virtue
The US Securities and Exchange Commission continues to drag its feet in regards to a Bitcoin or cryptocurrency exchange-traded product. However, Bitwise Asset Management’s global head of exchange-traded products, John Hyland, believes we’ll be seeing the major market catalyst “sooner rather than later.”
When asked by ETF.com about the likelihood of seeing a bitcoin or cryptocurrency ETF in the near future, Hyland responded:
I think we get them sooner rather than later. But I also think that if we don’t see any action by the SEC in the next two months, we’ll jump to 2019 and beyond. I don’t see the SEC going from red light to green light anytime near the midterm election. It’ll make them gun-shy.
I handicap the odds of a U.S. …
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