Co-founder and head of Capital Management BK Brian Kelly (Brian Kelly) believes that the SEC does not approve the launch of a bitcoin ETF before the end of this year.
Most analysts called the transfer controller the time of making decisions on applications CBOE and VanEck/SolidX for the creation of exchange-traded funds on the basis of BTC cause the price drop for the cryptocurrency market.
But Brian Kelly is confident that quotes although bitcoin has decreased significantly in recent days, sell it — the wrong decision.
“Bitcoin made a huge run from $5800, and all this really happened because people thought — it will be BTC-ETF. SEC came out and postponed the decision. Warned of a small spoiler — 30 Sep, SEC likely to postpone the decision again because the market is not ready for this, and the Commission has no answers to all the questions,” said Kelly.
CEO BKCM also drew attention to the fact that during the week, when bitcoin and most other cryptocurrencies gradually weakened against the dollar, the price of Ethereum Classic (ETC) showed steady growth.
According to Kelly, the drivers for this were two things: adding support ETC app Robinhood Crypto and trading platform for institutional investors Coinbase Pro. However, he is confident that in the near future ETC will be available on Coinbase and retail players.
Earlier, the largest canadian investment firm Canaccord Genuity suggested that most likely the SEC will approve the first bitcoin ETF before March 2019.