The head of the Abra solved the cause of failure of the SEC on applications for bitcoin ETF
In an interview with CNBC, the head of the payment startup Abra bill Barhydt called the reason why, in his opinion, the Commission on securities and exchange Commission (SEC) rejects the application for a bitcoin ETF. He said that members of kriptonyte just don’t match the “archetype of the applicant”, that is “not fit the pattern of people that the SEC usually approves the application.”
Barhydt suggested that the approval of the ETF can get those “feels looks feels and smells” as it awaits SEC. He also noted that the chances to get a green light more “reliable financial institutions” than start-UPS or relatively unknown companies. Barhydt, predicted that next year the regulator finally approved the ETF to bitcoin:
It will happen next year, and I really rely on this because the demand for bitcoin ETF is great.
We will remind, in July, the Commission on securities and exchange Commission denied approval of ETF the Winklevoss brothers, and the decision on applications VanEck and SolidX has been postponed until September 30.
Last month, CEO of Pantera Capital Dan Morehead said that the recognition of a bitcoin ETF will take “quite a while” for the reason that the cryptocurrency is still very young. He also noted that the most recent asset, approved by the SEC, was copper, “who was on earth 10,000 years”.