Brian Kelly: Bitcoin ETF is in 2019 is unlikely & VanEck/SolidX decision to 27.02.
Home News Brian Kelly: Bitcoin ETF is in 2019 is unlikely & VanEck/SolidX decision to 27.02.
Marcus Misiak –
A Bitcoin Exchange Traded Fund (ETF) seems to be the opinion of numerous experts in the short to medium term is rather unlikely. Last CNBC expert Brian Kelly said that he believes in the approval of a Bitcoin ETFs in 2019.
The approval of a Bitcoin ETF due to the American stock market regulator, the Securities and Exchange Commission (SEC) is still an eagerly awaited decision for the crypto-community. Many experts believe that the approval of a Bitcoin ETFs could Herald the beginning of a large capital inflow from institutional investors in the crypto market. However, the SEC has found in various Ablehungen of different ETFs always serious reasons which prevented the approval of ETFs. Accordingly, the votes, the keep in fact, in the short or medium term, the permission for a possible more in the number.
Recently, the CNBC Analyst Brian Kelly explained that Bitcoin had “no Chance” to obtain approval for a ETF in the year 2019. In an Interview with Cointelegraph, the Crypto Finance Conference in Switzerland on 18. January, said Kelly to the current market situation and forecast for the coming year. While he holds on to his Conviction that the admission of a Bitcoin ETFs is not to occur within the next twelve months, he believes that 2019 will be for the crypto markets a more profitable year than the last year:
We are somewhere for a short time before the end of the bear market, but we could still have another Deep, it would not surprise me at all.
Kelly further explained that he believes that the rise of geopolitical tensions, such as the emerging trade war between the United States and China, greater interest in the settlement of currencies, such as Bitcoin and Litecoin will. In addition, he claims that more market participants opt for crypto as an Alternative to more traditional investments such as Gold:
Probably in 2019 the focus will be on currencies, such as Bitcoin, Litecoin – some of them – because we have a lot of geopolitical tensions in the world. We begin to see that some of the global macro companies use Bitcoin as an Alternative to your gold position, or as a hedge against currency fluctuations and volatility.
Decision on VanEck/SolidX Bitcoin ETF comes to 27. February
The US Securities and Exchange Commission (SEC) has on 16. January 2019 to all pending administrative frozen method due to the shutdown of the U.S. government. According to the crypto-legal experts, Jake Chervinsky, it is not permitted by the Commission, however, by law, to postpone the decision on VanEck/SolidX Bitcoin ETF on the current period. Chervinsky via Twitter explained that although the SEC was turned off prior to this decision, the administrative procedures still in progress, so that the deadlines shall remain unaffected.
The SEC should. therefore, a decision on the approval of the CBOE supported VanEck/SolidX Bitcoin ETF up to 27 February 2019 to meet. The SEC had postponed its decision several times already, most recently in December 2018.
The Shutdown, the SEC has brought forth rumors that the Bitcoin ETF could be automatically approved if the Commission missed the deadline. While this is true in theory, Chervinsky rejected recently, the possibility and said that “it would happen in reality, never”.
Regardless Chervinsky looks to be a low Chance for approval of the VanEck/SolidX Bitcoin ETF. Chervinsky said earlier that the chances of a Bitcoin ETF approval, had fallen, in his opinion, to 10%.