More

    CNBC's Brian Kelly Doesn't Think Crypto Needs A Bitcoin ETF; Major On-Ramps Already Exist

    If you were keen on the industry news concerning Bitcoin for the past two years, you would have noticed a recurring trend in the Bitcoin exchange-traded funds. They are financial vehicles that are believed to be a catalyst that will take the nascent market to greater heights. Some analysts think so even though these vehicles have not appeared in US markets.

    Institutions and retail investors would receive their original medium for investments in Bitcoin from an ETF tracking the top cryptocurrency. However, some investors think otherwise. They are not entirely convinced that these vehicles would be everything for cryptocurrency investment.

    EFT Hype (Bitcoin) Unjustified

    In last week's segment of Fast Money on CNBC, Brian Kelly said that a Bitcoin ETF is not that important for continued growth at the moment. Many people take his statement to be blasphemy, but he went ahead and did back up his sentiments.

    He argued that this was because other on-ramps were up-and-coming. The great investor looked at TD Ameritrade and Fidelity, these are two giants in the finance space in the US.

    Brian added

    ultimately you’re going to be able to buy Bitcoin in a regular brokerage account, or it’s going to look like a regular brokerage account. So I’m less concerned that you need a bitcoin ETF at this point in time.

    Sasha Fleyshman, a trader at Arca, also made similar remarks on the issue. He posted on his Twitter account recently that the Bitcoin ETFs that are so much hyped shouldn't be receiving such kind of attention. He argued that there are investment and custodial solutions for institutional entry in the right way.

    Lou Kerner, the CryptoOracle founder, said that Bitcoin does not require institutions to prosper and go higher. He added that retail-based activities have mainly contributed to the growth of the asset. Kerner concluded that these institutions should be followers in this market; they should not be the trailblazers.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Daniel W
    Daniel W
    Daniel Wambugu writes daily cryptocurrency and blockchain related articles BitcoinExchangeGuide. His articles have appeared in numerous blogs, media publications, and community forums. He prides himself on once being a beginner and uses his experience to deliver high-quality insightful content for our dear readers. With a knack for reviewing ICOs or researching news, Daniel plans to continue being a top contributor for many years to come.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,365FansLike
    2,781FollowersFollow
    4,135FollowersFollow

    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Cash is King in Coronavirus Ravaged Economy But Bitcoin is “Next in Line to the Throne”: Hedge Fund Manager

    Mark Yusko, the CEO at Morgan Creek Capital Management says coronavirus is unleashing a once in a lifetime downturn. Yusko appeared on CNBC’s “Trading Nation”...

    Bitcoin’s is Gold 2.0; Billionaire Chamath Palihapitiya Lays Out BTC’s Path Forward in Macro Backdrop

    In the latest episode of The Pomp Podcast, host Anthony "Pomp" Pompliano had Chamath Palihapitiya, the CEO of Social Capital as a guest who...

    Binance ‘Leak' Signals Possible Bitcoin Options Trading Launch On The Exchange

    The competition across cryptocurrency exchanges in the crypto derivatives markets is heating up to a boiling point as yet another big player hints at...

    BTC Isn’t a Hedge Against Stock Market’s Poor Returns or Coronavirus But US Dollar & Inflation: BitGo CEO

    In 2020, Bitcoin has been following stock markets religiously, so much so that their correlation went to a new high. But now, the flagship...

    Netflix's ‘Tiger King' Villian, Carole Baskin at The Big Cat Rescue Accepts Crypto Donations

    With the Coronavirus (COVID-19) running rampant in the United States, Americans are drooling over the hot new docuseries on Netflix; “Tiger King: Murder, Mayhem...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.