Ric Edelman one of Wall Street veteran earlier today announced his entry in bitcoin. He will serve as an investor and advisor to New Bitwise asset management. In an exclusive interview with CNBC, he said that a bitcoin ETF is inevitable and it is only a matter of time till SEC approves one.
Ric bullish on Bitcoin, predicts a bitcoin ETF approval
In his interview, Ric emphasized the lack of awareness among the financial advisors about bitcoin and blockchain. He also provided his stand on Bitcoin ETF situation,
“A day will come when SEC creates or allows a Bitcoin ETF”
Ric also said that once a bitcoin ETF is approved it will change everything and crypto market will see a bullish trend. His comments resonate with earlier speculations made around Bitcoin ETF where some analysts even predicted that bitcoin prices may reach as high as $3500 if a Bitcoin ETF is approved.
— CNBC's Fast Money (@CNBCFastMoney) October 3, 2018
No doubt approval of a bitcoin ETF will mean more bitcoin adoption as investors will be able to invest in cryptocurrencies with the same ease as they invest in stocks. RIC’s comments raise a hope against SEC’s ignorance till now for a bitcoin ETF.
It is worth mentioning that SEC has already rejected bitcoin ETF application by the Winklevoss twins, two ETFs filed by Proshares, five ETFs from Direxion, and another from GraniteShares.
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