Posted 11/13/2023, 3:54:50 PM
SEC Unlikely to Approve Bitcoin ETF Soon, Coinbase Leads as Top Contender
- No Bitcoin ETF until an exchange is SEC compliant, Coinbase is leading candidate
- SEC Chair Gensler not as flexible on Bitcoin ETF as some think, could be 1.5 years away
- Institutions and sovereign wealth funds ready to buy Bitcoin, but need regulatory clarity
- Bitcoin proving itself as store of wealth, but 24/7 trading poses challenges for institutions
- When ETF approved, demand for Bitcoin expected to be very high from institutions