Todd Rosenbluth of CFRA Research announced in an interview with CNBC’s ETF Edge on October 11, 2021 that the US Securities and Exchange Commission can wait until 2022 before approving a Bitcoin ETF.

No US Bitcoin ETF Approval in 2021?

While there was general optimism in the crypto space that the dreaded US Securities and Exchange Commission (SEC) finally the green light a number of Bitcoin ETF proposals designed according to their needs have indicated that the crypto community may have to wait much longer.

Per sources close to the latest development, Todd Rosenbluth, Senior Director for ETF and Mutual Fund Research at CFRA, one of the world’s largest independent investment research firms, said in an interview with CNBC ETF Edge that it is very likely that no Bitcoin ETF proposal will receive SEC support this year.

In his words:

“It’s a timing problem. Is this going to happen in 2021 or is it moving to 2022 so that all of these products that could … meet the goals are actually approved and can hit the market at the same time instead of receiving a first mover benefit? It is possible – we even consider it likely – that we will postpone a Bitcoin futures ETF until 2022, until the regulatory environment is clearer. “

In recent years, there has never been a lack of proposals for Bitcoin ETFs on the SEC table. However, the watchdog has always found a way to reject them all, citing reasons like market manipulation, an immature crypto market and more, much to the chagrin of market participants and even pro-bitcoin commissioners like Hester Peirce.

“This line of disapproval leads me to conclude that this commission is unwilling to approve the listing of a product that will allow entry into the market for Bitcoin, and that no filing will meet the ever-changing standards upon which they are applied There is a commission for Bitcoin. related products – and Bitcoin-related products only, ”she stated in February 2020 after the agency turned down a number of ETF filings.

With the Bitcoin (BTC) Price, which is now well above the USD 50,000 price range, an ETF approval this year would definitely trigger a massive surge in the markets. However, it remains to be seen whether America’s Bitcoin ETF dream will finally come true in 2021.

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