CEO of Pantera Capital Dan Morehead believes that the question of approval of bitcoin-ETF is not as important as Bakkt and Fidelity. These projects start cryptocurrency trading platform for institutional investors, and the ETF is still too early.
The founder of Pantera Capital talked to Catherine Wu, Director of development at Messari and the moderator of Institutional cryptocephalinae. The organizer of the latter was made by Bloomberg.
Pantera Capital recently made a lot of noise in the media sphere. The essence of panic that it is one of the first traditional companies that have invested in blockchain. But according to recent information, the share of the cryptocurrency investment portfolio “lost” 73 percent.
Speaking about the future of cryptocurrencies, Morehead slightly devalued the importance of the ETF on Bitcoin and doubted their potential for a powerful reversal of the trend. Dan believes that if open-end investment funds somehow affect the cryptocurrency market, then the approval may take years.
“Few people realize that the past is approved for ETF asset was copper. The approval took three years, but before that copper existed 8 thousand years,” backs up his word with Morehead.
ETF on Bitcoin. When to wait?
Morehead spoke regarding the recent delays and deviations Bitcoin ETF. The expert believes that market-makers should not hope for a speedy approval of this instrument, because the cryptocurrency market is still in its infancy. In addition, ETF does not carry anything new. It is naive to believe that his approval would give the cryptocurrency a strong push.
In General, the head of the cryptocurrency Pantera Capital advises investors to settle down a bit and focus on more important things. Apparently, the projects Fidelity and Bakkt.
Information prepared in Bitcoinist. Look for more information in cryptodata.
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