VanEck investment and Valkyrie Digital Assets many not see their Bitcoin exchange-traded funds or ETF approved by U.S regulators up to two years. The aforementioned was stated by an analyst at CFRA research.
The head of ETF and mutual fund research Todd Rosenbluth has told the Host of CNBC’s ETF edge , Bob Pisani, that the United States SEC would postpone the period for considering the Bitcoin ETF which was first produced by VanEck an investment management firm.. SEC has uptil April 29 to make a decision on the Bitcoin ETF application they received on March, 15.
“We’ve got a number of firms that have either gone through the filing process or have previously filed but are waiting for more clarity,” said Rosenbluth. “The SEC is less likely we think to try to pick a winner, as to who comes first and I think we’re more likely to see them — if they do approve an ETF — to approve multiple Bitcoin-related ETFs.”
He added:
“We’ve got a number of firms that have entered. We think we’re likely to see one in the coming year or two, but we don’t have a firm time frame as to when the answer would be yes.”