Top Wall Street Advisor Enters Bitcoin Space, Says A Bitcoin ETF is Inevitable

By Sunil Sharma
Published October 4, 2018 Updated October 4, 2018
Best Buy In

Exchanges

Wallet

bitcoin etf

Top Wall Street Advisor Enters Bitcoin Space, Says A Bitcoin ETF is Inevitable

By Sunil Sharma
Published October 4, 2018 Updated October 4, 2018

Ric Edelman one of Wall Street veteran earlier today announced his entry in bitcoin. He will serve as an investor and advisor to New Bitwise asset management. In an exclusive interview with CNBC, he said that a bitcoin ETF is inevitable and it is only a matter of time till SEC approves one.

Ric bullish on Bitcoin, predicts a bitcoin ETF approval

In his interview, Ric emphasized the lack of awareness among the financial advisors about bitcoin and blockchain. He also provided his stand on Bitcoin ETF situation,

“A day will come when SEC creates or allows a Bitcoin ETF”

Ric also said that once a bitcoin ETF is approved it will change everything and crypto market will see a bullish trend. His comments resonate with earlier speculations made around Bitcoin ETF where some analysts even predicted that bitcoin prices may reach as high as $3500 if a Bitcoin ETF is approved.

Source: https://twitter.com/twitter/statuses/1047607462583525376

No doubt approval of a bitcoin ETF will mean more bitcoin adoption as investors will be able to invest in cryptocurrencies with the same ease as they invest in stocks. RIC’s comments raise a hope against SEC’s ignorance till now for a bitcoin ETF.

Read more: No More Waiting for Bitcoin ETF as Institutional Start Buying Cryptocurrencies in OTC Markets

It is worth mentioning that SEC has already rejected bitcoin ETF application by the Winklevoss twins, two ETFs filed by Proshares, five ETFs from Direxion, and another from GraniteShares.

To stay updated about Bitcoin ETF news keep visiting at bitcoinetf

Do you think 2019 would be the year for institutional money to come in cryptos? Do let us know your views on the same.

advertisement

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Sunil Sharma
292 Articles
Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO's in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on Twitter at @sharmasunil8114 and reach out to him at sunil (at) coingape.com