Bitcoin ETF [Exchange-Traded Fund] Expected To Arrive Soon - Ric Edelman.

Bitcoin ETF [Exchange-Traded Fund] Expected To Arrive Soon - Ric Edelman.

2019-02-12 | Big Bob

Bitcoin ETF [Exchange-Traded Fund] Expected To Arrive Soon - Ric Edelman.

А Bitcoin [BTC] ETF [exchange-traded fund] can eventually arrive to the market, in line with Ric Edelman, father of consultatory firm 'Edelman Financial Engines' in a recent 'interview' with CNBC.

Edelman revealed that a Bitcoin ETF is “virtually sure,” whereas “the solely question is when.” Explaining further, he added:

"The SEC [Securities & Exchange Commission] has many legitimate thoughtful issues that the firm needs to overcome but i am assured they will. Eventually we expect see a Bitcoin ETF and it's at that stage that i will be way more comfortable recommending that standard investors participate."

In general, ETF' are alike securities that track a basket of assets proportionately depicted within the fund’s shares. A Bitcoin ETF is seen by some a ‘holy grail’ for the cryptocurrencies and its 'adoption'.

Edelman aforementioned, “Fidelity has achieved a major announcement in the custody issue. We have got Kingdom Trust and several of alternative serious players on the custody facet. I am assured that in a very short order VanEck or Bitwise can satisfy the custody concern to the SEC."

The SEC has antecedently expressed concern regarding the shortage of a secure chain of custody along with the governance in overseas trading platforms. Adding further Edelman revealed that he puts Bitcoin [ETF] within the same class as oil and gold, that he aforementioned are “globally-traded assets beyond the way of the SEC.”

Founded back last year, Edelman Financial Engines was shaped by the merger of consultatory firms Edelman Financial Services, LLC and Financial Engines Advisors, L.L.C. Edelman Financial Engines operates as a monetary consultatory firm, 'reportedly' having $205 Bln in assets under management.

Within the same interview, editor-in-chief of ETFTrends.com named ‘Tom Lydon’, revealed that he has already detected profound interest in at Bitcoin [BTC] ETF, additionally stating that "we interview advisors all the time. 74% say they've talked to consumers regarding their interests in Bitcoin [BTC] so they ought to step up when this happens as that money is going to go elsewhere." Edelman added:

“Technologically, regulation-wise it may happen tomorrow. There's no specific motivation as the ‘powers that are be' within the fund industry have no incentive to give up their market shares.”

Earlier in Jan., the CBOE [Chicago Board Options Exchange], as well as VanEck & financial services company SolidX, 're-applied' with the regulatory authority ‘SEC’ for a rule amendment to list a Bitcoin ETF, that it had antecedently withdrawn.

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