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 (ETFs). Thus far, nine have tried and nine have failed with respect to bringing in a cryptocurrency-related ETF to the capital markets.
Registrants were asked whether they would see a cryptocurrency ETF finally make it to the capital markets with over 70% forecasting an appearance prior to the end of 2019.
“I think that’s accurate, the SEC still has great questions they’re asking about cryptocurrency ETFs,” said Kelly.
As cryptocurrencies in general are still struggling to gain legitimacy in the legacy investing world, a thumbs up by the SEC would give it that extra layer of authenticity. However, the panel agrees that as of now, digital currencies are not an aberration and here to stay.
“Crytpo is here, it is real and it isn’t going away,” said Hougan.
If you missed the 2018 Disruptive ETF Virtual Summit, click here to view it on-demand.