Bitwise CIO Matt Houganannounced that it is optimistic that American federal regulators will finally give the green light to a spot Bitcoin (BTC) exchange-traded fund (ETF) this year.
Speaking in a new interview on CNBC’s ETF Edge, Hougan said in terms of fraud risks, Bitcoin ETFHe stated that there is no significant difference between the leading cryptocurrency and other commodities to guarantee that their .
“There are certainly instances of fraud and manipulation in any commodity market.
I don’t think they are materially worse in the Bitcoin (BTC) market and as such, the same standards apply to oil, natural gas, gold, silver, etc. It can also be applied to Bitcoin and other crypto assets.
I think crypto will overcome that.”
Hougan said that the crypto industry’s efforts to address the concerns of the US Securities and Exchange Commission (SEC) will eventually turn to regulators approving pure Bitcoin ETF implementations.
“While I can’t speak to Bitwise’s filings, the quality of filings around Bitcoin ETFs has improved significantly over the past year.
Companies, not just Bitwise but others, are providing the SEC with an excessive amount of data to help answer their questions, and in the end, I think the cumulative weight of the evidence will force them to move forward with a confirmation.”
Hougan also explained why an ETF approval would greatly benefit investors.
“It will be great for investors. There will be more investor protection, there will be better products.
It will significantly lower prices to access the crypto market that could save people billions of dollars in the long run, so I’m very hopeful that we’ll get it this year.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.