The founder of the Binance cryptocurrency exchange, Changpeng Zhao, suggested that institutions pay attention to cryptocurrencies. In an interview with Bloomberg, Binance CEO Changpeng Zhao stated that many institutional investors are wary of investing in cryptocurrencies as it is too risky. But given the growth of the market, he invites all large companies to pay attention to cryptocurrencies.
Gary Gensler, Chairman of the US Securities and Exchange Commission, explained why the agency approved the launch of an ETF on BTC futures, rather than a direct exchange-traded fund for cryptocurrencies.
Securities and Exchange Commission (SEC) Commissioner Hester Peirce is concerned that the US may lag far behind other jurisdictions in adopting tradable exchange-traded funds (ETFs) for cryptocurrencies. Speaking at "The B Word" online conference, Peirce expressed concern that Canada and Brazil have already approved the launch of these investment products, while the US is still "in thought."
Michael Sonnenshein, managing director of Grayscale Investments, believes that approving Bitcoin traded exchange traded funds (ETFs) is just a matter of time.
"We think the launch of ETFs on Bitcoin is a matter of time. Regulators have done an excellent job, they are trying to stay on the cutting edge of the development of digital assets as a class," said Sonnenshein in an interview with Anthony Pompliano, founder of Morgan Creek Digital.
Founder and CEO of BKCM cryptocurrency investment company Brian Kelly believes that the industry does not currently need Bitcoin traded exchange traded funds (ETFs).
Kelly emphasized that Bitcoin ETFs are not needed for the development of the industry, since the first cryptocurrency is already available for trading on regulated platforms such as Fidelity and TD Ameritrade.
Co-founder and CEO of Kenetic Capital, Jehan Chu expressed the opinion that the rate of the first cryptocurrency by the end of this year will exceed $ 30,000.
Chu made a statement in an interview with Bloomberg. According to the head of Kenetic Capital, one of the main factors for the growth of Bitcoin will be the launch of the Fidelity and Bakkt platforms, the emergence of Facebook's own cryptocurrency. In addition, the recent unsuccessful share offerings conducted by Uber and Lift may attract investors to "new technology companies."
Director of Public Relations at BitRefill, John Carvalho, expressed the opinion that ETF for Bitcoin is not necessary.
"I don't think Bitcoin "needs" an ETF. I'm not sure it will be the catalyst for new money that people hope for either. If a person or entity wants exposure to Bitcoin, they already have options. I'm also not a big fan of large central custodial pools of Bitcoin, it's a recipe for disaster," said Carvalho.