Another Major Investment Firm Says Bitcoin ETF Not Likely in 2018

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The delay of the decision of the U.S. SEC to reject or accept VanEck-SolidX as well as CBOE Bitcoin ETFs might have an unfavorable influence on the short-term rate pattern of BTC as well as the remainder of the crypto market, which largely depends on the movement of its most leading cryptocurrency.

One positive takeaway from the Bitcoin ETF saga is that the marketplace has never ever demonstrated the degree of confidence capitalists have revealed towards VanEck-SolidX and CBOE Bitcoin ETFs.

Canaccord scientists stressed that as a result of the history of VanEck as well as CBOE in dealing with regulated U.S. markets as well as the U.S. SEC, their Bitcoin ETFs will likely be accepted by the SEC. The two ETFs have complete insurance coverage, guaranteed secure storage for capitalists, as well as most notably, do not rely on a single crypto exchange for assessment, which ultimately led the Winklevoss Bitcoin ETF to be declined.

Institutions are Demonstrating Interest

Given that very early 2018, the largest companies in the cryptocurrency market consisting of Coinbase and also Ledger have concentrated on establishing a collection of institutional products, to assist massive institutional investors in commiting to the cryptocurrency market.

Canaccord researchers specified that the trusted cryptocurrency custodianship supplied by Coinbase, custody services created by Ledger and also BitGo, and the ETF filing of VanEck have attracted institutional capitalists into the space and will continuously boost the demand for crypto in U.S. markets.

“The arrival of a potential bitcoin ETF stays top of mind for institutional capitalists seeking exposure to this emerging possession course, and there are now multiple applications pending authorization by the SEC, most significantly that proposed by Van Eck/SolidX. Furthermore, institutional custody continuouslies make development, as Ledger announced a collaboration with Nomura and also Global Advisors during the Consensus meeting in May and Coinbase launched its institutional wardship item in early July,” Canaccord researchers added.

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Original source: https://www.ccn.com/another-major-investment-firm-says-bitcoin-etf-not-likely-in-2018/

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