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During an interview with CNBC Crypto Trader, Mark Brady, former Blackrock builder of the ETF, said that the community of cryptocurrencies probably will not see a Bitcoin ETF [BTC] by the end of this issue. 39; year. Brady also said that, from the point of view of the acceptance of large retailers, an ETF is very important for the cryptocurrency ecosystem.
This is because a fund traded on a stock exchange is basically a container that allows customers to put capital into different underlying assets. These activities could be difficult for a medium retail investor to get exposure, "Brady said.
The ex-ETF manufacturer continued to say that a "good example" for such exposure would be fixed income investments. According to him, a fixed income is traded in normally large notional values, while an ETF allows a retail investor to gain exposure to the cryptocurrency on much smaller scale.
He went on to say that a Bitcoin ETF would not be the reason why institutional investors invest in cryptocurrency, because there are more systematic elements in the ecosystem that must be present. This includes solutions like custody before real institutional investors start participating, said Brady. In particular, the beginning of such solutions has already been seen in technologies such as Coinbase Custody.
Mark said:
"I do not really expect a Bitcoin market to be regulated by the end of the year and the fragmentation of liquidity means that it is unlikely that a market will have a broad dominion over the overall volume of trade of Bitcoin. "
In addition, he spoke of his perspective on the dissent published by the US Securities and Exchange Commissioner, Hester Peirce. Brady said there were internecine struggles going on in the SEC about the approval of Bitcoin's ETF and that Peirce wrote a very nice piece outlining the community's opinion. He said it was "very unlikely" to get a Bitcoin ETF by the end of 2018. He also said:
"But I think in general when you talk about ETF, you talk about the ecosystem and I mentioned this lack of caretaker first qualified in the ecosystem and I think that until there is a regulated exchange with an appropriate governance, there will be a variety of custody solutions, you will not see an ETF approved by them. "
Hsan Asum, a Youtuber commented:
"The denied ETF is a loss to the United States, every country that has accepted the crypt will prosper and the United States will get too late up."
T2, another Youtuber has commented:
"BTC is decentralized BTC does not need ETFs ETF will only lead BTC towards centralization A lot of people do not understand it"
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