Bitcoin ETF endorsement to happen one year from now, Bill Barhydt Predicts
Lately the SEC has dismissed almost 9 Bitcoin ETF requests by GraniteShares, Direxion and ProShares. Barhydt guarantees the main reason these requests were dismissed on the grounds that they did not meet the required standards of SEC.
"The individuals making the submissions do not suit the identity who are used to endorsing,"
clarified Bill, a previous Goldman Sachs worker.
He additionally noticed that a candidate would need to solidly meet SEC guidelines for any endorsement to happen, while calling attention to that applications from trustworthy fiscal firms are more prone to succeed.
The crypto expert clarified that he would wager that Bitcoin ETF will earn the endorsement of the SEC sooner or later in the coming year, stating
"there is a great need for it."
As of late, the endorsement of a Bitcoin ETF by the US SEC has been a hotly debated issue. Following the terminating a larger part of the recorded submissions, everyone's eyes are presently on commodity-supported Bitcoin Trust ETFs such as VanEck/SolidX. The result on this specific application has been rescheduled to be announced on 30th of this month, and is the most awaited SEC verdict as of late.
Cryptocurrency analysts trust there are three possible barriers that a Bitcoin ETF application should knock over to get the endorsement from the commission. These are:
•The Security barrier: the requirement for guardianship, and for the ETF to be totally covered by insurance and physically supported.
• Absence of liquidity: this basically makes the cryptocurrency marketplace vulnerable, making it easy to manipulate prices.
• No Correct method of Valuation: there should be an evaluation technique to show how the ETF is performing, what approved members pay for ETFs, and what financial specialists pay for common assets.