Crypto Trader Host Ran Neu-Ner Talks Bitcoin EFT Impact With 4 Different CEOs
The important and known cryptocurrency expert, Ran Neu-Ner, interviewed different important CEOs from companies in the crypto space. Among the CEOs we find Moshe Hogeg, CEO of Sirin Labs; Daniel peled, CEO of Orbs; Yoni Assia, Founder and CEO of eToro; and Yaniv Feldman, CEO of One Alpha.
The participants discussed about virtual currencies and the influence of a crypto exchange traded fund (ETF) in the cryptocurrency market.
According to Yaniv Feldman, the industry wants to see a Bitcoin ETF as a signal from regulators in the industry.
Investors that are now scared about entering the market will feel safe in the future if a Bitcoin ETF is approved.
Later, talking about the cryptocurrency market, the Founder of eToro said that the ETF will not have a big impact on the actual holding in the market in the short term. He said that the Bitcoin ETF would give to the market less than a billion dollars during the first year in case it is approved.
“If I’m not mistaken it’s around a hundred billion dollars and it took more than ten years to get there so we can expect probably less than a billion dollars in the Bitcoin ETF in the first six to twelve months which is not that significant to the market,”
Mr. Assia said.
In addition to it, he said that he would like to see people understand how Bitcoin works and how to hold and transfer it. The real change, according to Mr. Assia, will come when investors start to hold their funds rather than using traditional infrastructure.
Daniel Peled said that some ETFs hold the underlying assets and other hold the futures. He explained that both of them need to be backed.
An important point to discuss about is the security of the cryptocurrency. Some individuals in the market believe that if they hold their private keys they become their own bank. However, it is not that easy to secure a digital asset.
He explained that investors should contact experts in security to store their assets. Mainstream adoption, for him, comes with instruments such as professional custody services and other similar solutions for companies and investors.
On the matter, he stated that Coinbase is one of the most important companies in the space because they allow people to buy and sell cryptocurrencies but also they work as custodians. According to him, this is what the industry is looking for.
Moshe Hogeg said that there is not an important number of institutional investors currently in the market. About it he said that the legitimization of Bitcoin is very important from a psychological perspective.
Ran Neu-Ner talked about the hopes of the crypto community with a Bitcoin ETF. ETFs may be able to bridge the gap between institutions and retail investors.
Nonetheless, Yaniv thinks that a Crypto ETF would not be available before 2019. He said that the industry is not ready yet for it. For him, the market still needs important and recognized custodian solutions.
The SEC denied several crypto ETFs due to the fact that the market could be subject to manipulation. Furthermore, the regulatory agency explained that the market still has high volatility.
He added on the matter:
“When you want to regulate an asset you want it to be safe for consumer usage. That’s a problem even though that in the traditional markets you know it’s just the same it's just that in the traditional markets people do it under the table in and crypto, they're doing over.”
Yoni explained that the market is headed towards a crypto ETF but it would take time to reach that point.