According to Osprey Funds CEO Greg King, in 2021, the SEC will not issue permission to launch Bitcoin ETF exchange-traded funds.
The expert expressed his forecast during a conversation with employees of Yahoo Finance Jared Blikr and Sanna Smith. The CEO of Osprey Funds recalled the hype in the crypto community after the appointment of Gary Gensler as head of the SEC.
However, despite the expectation of imminent legalization of the industry, nothing of the kind has yet happened. Gensler is considered a specialist in blockchain technology, but he has not yet accelerated the work on the implementation of the regulatory framework for market participants.
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The launch of a Bitcoin ETF is possible, but not this year. In the coming years, the American regulator may change its position, King said. He also noted that the flow of applications for the launch of exchange-traded crypto funds in the SEC has become one of the factors in the growth of the cost of bitcoin and ether.
Many institutional investors have been waiting for the legalization of this product. However, the postponement of the publication of the decision on such applications painfully hit the crypto sphere and became one of the reasons for the negative trend observed now.