William Cai, co-founder of funding agency Wilshire Phoenix, commented that Bitcoin ETF is unlikely to be permitted in 2021, 2022 or 2023.

William Cai, co-founder of Wilshire Phoenix

To date, round 13 Bitcoin ETF proposals have been filed with the SEC, together with Wilshire Phoenix, however the regulator has up to now delayed a choice. Cai mentioned that “not all funds will be easily approved”.

Like Bitcoin journal reported, the fee rejected Wilshire Phoenix’s Bitcoin ETF utility in February 2020, a lot to the firm’s horror.

According to Cai, regardless of the extra crypto-friendly stance of latest SEC chairman Gary Gensler, the committee hasn’t modified its stance on the Bitcoin ETF.

“I do not see any signal of any change in the SEC’s considering. Price manipulation continues to be a giant drawback for them. “

Cai is not the just one who has doubts about his means to approve a Bitcoin ETF in 2021. In June, Greg King, CEO of bitcoin belief issuer Osprey Funds, mentioned 2022 can be the earliest estimate for a bitcoin ETF to emerge.

King acknowledged at the time {that a} Bitcoin ETF was not on the SEC’s precedence record. Cai argued equally, saying the committee is concentrated on regulating meme inventory, complying with environmental, social, and governance pointers, in addition to Robinhood’s preliminary public providing.

Annie

According to Cointelegraph

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