Speaking at the Inside ETFs Conference down in Florida recently, the founder of Edelman Financial Engines (Superstar Ric Edelman) has gone on record expressing that a bitcoin ETF will actually happen. Ah, but no timetable. That’s always the hard part…..timing. Of course trying to guess when the regulators (specifically the SEC) will actually approve ANYTHING, much less a bitcoin ETF, is just plain frustrating. There are a lot of regulatory hurdles (and some well justified) before the much anticipated Bitcoin ETF actually shows up on a trading screen. But sure, at some point it will happen. However, I will ‘bet’ Ric there will be a bitcoin Security Traded Token before any bitcoin ETF. See more re: Ric’s interview below.
Bill Taylor/ Fintek Capital
(Publisher’s Note: Ric Edelman is an investor in Bitwise, which filed with the SEC in January 2019 to launch a new Bitcoin ETF)
“The road to a bitcoin ETF has seen many roadblocks, but one finance expert said it’s an inevitability.
“It’s virtually certain. The only question is when,” Ric Edelman, founder of Edelman Financial Engines, said Monday on CNBC’s “ETF Edge” at the Inside ETFs Conference in Hollywood, Florida. “The SEC has several legitimate thoughtful concerns that the industry has to overcome but I’m confident they will. Eventually we will see a bitcoin ETF and it’s at that stage that I will be much more comfortable recommending that ordinary investors participate.”
The Securities and Exchange Commission has long had concerns over the cryptocurrency market and how to regulate it. For one, bitcoin trading lacks a secure chain of custody like other financial markets. Secondly, the SEC has little control over price manipulation given it has no governance over overseas trading platforms.
Major financial institutions’ interest and investment in finding a solution should mean a bitcoin ETF eventually comes to market, Edelman contended…”