Mid-week the Commission on securities and stock exchanges of the USA (SEC) has postponed the consideration of open-ended investment funds (ETF) in September. The representative of the regulator said that the reason was the complexity of the topic.
The uncertainty ETF was the reason for the formation of a new wave of assessments and projections necessary startup funds. While some experts do not see the need in starting a Bitcoin ETF, while others believe that this event will become a major catalyst for the next big step in developing cryptocurrencies. Analyst opinions leads CCN.
Why Bitcoin ETF? The analysts
Founder Netcoins Michael Vogel sees the opportunity prospects for the use of ETFs as “interesting ideas”. If he did not believe that the launch of funds is crucial for long-term success of Bitcoin.
Approval of open investment funds is likely to have a significant impact on the price of Bitcoin, but the effect is temporary.
Investor Alain Corvids believes that the legalization of ETFs will not have a big influence on the development of Bitcoin, but it will open up the market to many new investors.
Anyone who intends to invest in digital assets, wants to be sure that his money protected from hackers. In this regard, the launch of open-end funds will have a positive impact on the market. However, in my view, the ETF has a number of disadvantages — for example, the organizers intend to hold customer funds in their accounts. Much safer to use cold wallets the best wallet type or Ledger.
Partner CryptoCrest Dan CoE believes the approval of open-end funds an important step for cryptocracy in General and Bitcoin in particular. However, it is unlikely the SEC would take a favourable decision in respect of the ETF in the near future, he concludes.
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