Bitcoin ETF Has ‘New Hope’ of Success: Bloomberg Analyst

Bloomberg has confirmed there is “new hope” of a Bitcoin ETF gaining US regulatory approval.

Speaking in a segment of the publication’s Bloomberg Technology, analyst Eric Balchunas said that a combination of people reshuffling and a “softened” SEC increased the potential for a legal fund appearing in the future.

“Now you have the CBOE (Chicago Board Options Exchange) announcing they’re going to list Bitcoin futures [...] and if the CTFC approves it and it is regulated, it will help bring more liquidity into the market,” he said.

“That’s a big deal; I think it’ll help with the SEC.”

The SEC had previously rejected an ETF application from the Winklevoss twins in March, a move which produced significant volatility in Bitcoin but also brought it considerable publicity.

Now, a lawyer from the firm representing the Winklevoss twins is set to gain an advisory role on the regulator’s investment management division.

“It can’t hurt,” Balchunas continued, “and I think the SEC has shown a few things that look like they’re a little more liberal than they were last year.”

Mainstream investor interest from sources such as Wall Street has become a talking point in Bitcoin circles this year, with major events seeing an increasing presence from legacy finance figures keen to get a handle on cryptocurrencies’ profit potential.

“When you approve an ETF for something, you’re essentially making it ready for primetime.”


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