As per the latest reports, the Osprey Funds CEO has shared his views around the approval of the exchange-traded funds (ETFs) for Bitcoin (BTC). Osprey Funds is prominently known as Bitcoin trust’s over-the-counter issuer (OBTC).
Greg King spoke his mind around the approval of the exchange-traded funds in the United State. He stated that several firms have already filed requests at the Securities and Exchange Commission (SEC) for the approval of the ETFs.
However, the Securities and Exchange Commission is yet to approve the exchange-traded funds for Bitcoin in the country. King has stated that he is not keeping his hopes high for the approval of the exchange-traded funds by the SEC in the running year.
Instead, he is confident that the US Securities and Exchange Commission would approve the ETF for Bitcoin in the country in 2022. Therefore, he is not looking forward to getting approval from the US SEC this year.
Greg King had reportedly shared his opinion about the BTC ETF approval during his talk with Seana Smith and Jared Blikre at Yahoo Finance. He talked about the approval of the BTC ETF during the Yahoo Finance show on Monday, July 19, 2021.
Greg King stated that Gary Gensler as the leader of the US Securities and Exchange Commission has a lot on his plate that he needs to take care of. There are currently so many things that need approval before the SEC can find the spare time to consider the ETF requests.
Therefore, it is currently not possible for the US SEC to approve the exchange-traded fund for Bitcoin at present.
King went ahead and admired Gensler’s contribution towards the adoption of blockchain technology. He stated that Gensler being the head of the US SEC is a promising thing for the entire crypto-blockchain industry. He has been connected with the blockchain industry for a while and knows how to deal with it.
He also knows how the cryptocurrency industry can be made easier for the users and investors, and what needs to be done in order to make it happen. Gensler is well aware of the fact that investors hesitant to invest directly in cryptocurrencies would find BTC ETF a secure channel.
Therefore, he must have that on his agenda but for now, other things are on a higher priority than the approval of the BTC ETF. Until the end of 2020, it seemed that the cryptocurrency industry had no future at all in the United States.
However, since the beginning of 2021, things have started shaping up for the crypto-sector in the country. Therefore, King is confident that sooner or later, more adoption is bound to come towards the cryptocurrency industry from the United States.