Alternative View on SEC and ETF

Alternative View on SEC and ETF

The U.S. SEC refused to approve the bitcoin ETF, which made the main cryptocurrency plunge by $6000. The majority of analysts think that the decision will be reconsidered in September, but there’s one more angle to look at it.

Brian Kelly, the CEO and founder of the crypto investment fund BJCM, believes that the SEC’s desire to delay the bitcoin ETF approval does not mean you should withdraw money from your crypto wallets right now.

According to his words, (https://www.cnbc.com/video/2018/08/07/ethereum-classic-hype.html) by the end of September the Commission will not make its cherished decision because «the market’s not ready for it and the SEC hasn’t had all the answers to their questions yet». It makes no sense to keep focused on what the U.S. watchdog is doing: crypto is actively deployed in the global market and people’s attitude towards it is getting more and more positive.

The analysts from Canaccord Genuity, one of the biggest investment banking companies in Canada, agree with the businessman. In their opinion, if the SEC postpones the meeting again, the bitcoin ETF will not be launched until March 2019.