eToro’s Mati Greenspan Comments on SEC’s Bitcoin ETF Choice, Final Deadline is October 2019
The Bitcoin ETF has not yet been approved by the SEC. At this point, the SEC has delayed its decision to issue a ruling.
Interestingly enough, eToro senior marketing analyst Mati Greenspan remarked on the ETF, stating:
“The idea of the SEC approving a Bitcoin ETF is basically saying that the government is going to approve something that the banks made. I don’t think Bitcoin cares very much about that.”
Greenspan also added that Bitwise’s Asset Management Report submitted to the SEC and which referenced the ETF proposal features two key points. First, it highlights “market manipulation” and “wash trading.” These issues seem to be ones that concern the SEC. Second, she noted that the proposal has a:
“good shot” of receiving approval and that the current SEC members are “more bullish on crypto.”
The next ETF hearing is scheduled on May 19, 2019 and Greenspan seems to believe that it will be delayed further, until October 2019. He also commented that if the ETF is approved by the SEC, it would open “larger crypto investments.” This may add to Bitcoin as an investment vehicle and that
“Basically, having an ETF is another vehicle that they can invest in Bitcoin, in an easy way.” Moreover, he added that the ETF could have a significant impact on Bitcoin’s price, but that it would affect the market “only for a short period of time.”