Easily one of the biggest stories in the cryptocurrency universe this year is the ongoing and still unrewarded effort to bring an ETF based on bitcoin to market in the U.S.
With less than three months left in 2018, it appears unlikely U.S. regulators will approve a bitcoin ETF this year, prompting some market observers to push bitcoin ETF predictions out to 2019. Some crypto market experts believe the wait will be even longer than that.
“Pantera Capital CEO Dan Morehead believes a Bitcoin-ETF approval is insignificant in comparison to Bakkt and Fidelity launching cryptocurrency trading platforms for institutional investors,” reports Bitcoinist.
Morehead is not expecting a bitcoin ETF to come to market anytime soon.
“When asked about whether the approval of a Bitcoin ETF and the belief that this would bring about a strong trend reversal held merit, Morehead said, ‘I think an ETF is years away,’” according to Bitcoinist.
Unfavorable Decisions for Bitcoin
Earlier this month, the Securities and Exchange Commission (SEC) set Friday, Oct. 26, 2018 as the deadline for public comments on nine applications from various issuers looking to launch bitcoin exchange traded funds.