The regulatory body's delays in approving bitcoin ETFs are piling up. The SEC already postponed deciding on Bitwise and VanEck's funds in March.
"Technically, there are deadlines, but, honestly, it's the SEC. They can do what they want," Nadig said. "They can kick this can down the road until they're comfortable." But he said "there's still a reasonable chance" that a bitcoin ETF could receive approval by the end of this year.before a bitcoin ETF receives full-fledged approval.
But the fact that the SEC is still in the information-gathering phase of its process doesn't bode well for some of the more ardent bitcoin bulls out there, Nadig said. "I think things are pointing towards a positive resolution for bitcoin bulls, but I don't think it's imminent. I still think we're at least a quarter out," he said. "We need to see this market mature, and as it matures, the regulators will get more comfortable."earlier in May for the first time in nearly 12 months. The digital currency has cooled off since then, losing nearly 6% in Monday trading.
ETFEdgeCNBC What would that prove?👹👺🤡
ETFEdgeCNBC I dont think BTC bulls give a damn about a bitcoin ETF. That is just wall street bs.
ETFEdgeCNBC Who needs an etf when it's so easy to buy
ETFEdgeCNBC ETF rejected btc move from 7.7k to 8.1k. I think no one is excited about etf ATM.
ETFEdgeCNBC Bitchcoin
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