Founder and CEO of crypto funding agency BKCM Brian Kelly has declared that Bitcoin (BTC) exchange-traded monetary imagination (ETF) are hardly wanted for the ecosystem’s growth, provided that the coin is already out there on regulated platforms resembling Fidelity and TD Ameritrade.
Kelly made his remarks throughout an interview with CNBC printed on Oct. 11, explaining:
“You have companies like Fidelity and TD Ameritrade starting to push into this space. So in the end you’re going to be able to buy Bitcoin in a regular brokerage account, or it’s going to look like a regular brokerage account. So I’m less concerned that you need a bitcoin ETF at this point in time.”
He extraly celebrated that the United States Commodity Futures Trading Commission’s (CFTC) determination to outline Ethereum as a good made a big influence on the area, including:
“The CFTC locution that Ethereum is a good is huge for the space. It gives us restrictive clarity. […] That opens the door for institutions to come in. […] Everybody is concerned, what if they ban it? […] The CFTC said ‘we’re not forbidding it yet, we’re gonna regulate it,’ and now investors can say ‘Put them in my good bucket.'”
General hope for the market
As Cointelegraph reportable on Oct. 9, the United States Securities and Exchange Commission rejected Bitwise Asset Management’s proposal to record a Bitcoin ETF.