A couple of things keep Bitcoin going, including an apparent split between Elon Musk and the cryptocurrency, as well as the SEC’s decision to postpone the decision on Bitcoin ETF filings again – this time for WisdomTree. During “The Claman Countdown” on the Fox Business Network on Friday, presenter Liz Claman spoke to Tom Lydon, CEO of ETF Trends, live from the Bitcoin conference in Miami about the latest crypto news and what to expect in the future.
As Lydon points out, Bitcoin is much bigger than Musk as thousands of people gathered at the conference to hear the latest about cryptocurrency and what to do with this growing sector.
“Bitcoin is not a fad.”
– ETF trends (@ETFtrends) June 4, 2021
Lydon continues, “The ETF and mutual fund companies are looking at all of this very carefully as there is a line around the corner from the SEC for applications for Bitcoin ETFs. At some point we will all see that demand is not being held back. Most investors want to be able to buy them for their platform accounts as opposed to a coin-based account. “
If you look at what thinks of things to be an actual ETF as opposed to something like that Bitwise Crypto Industry Innovators ETF (BITQ) this is a proxy for crypto currencies, it is about securities and the lines in the crypto room. With this in mind, the industry is doing a good job of taking responsibility and communicating with the SEC.
“Big institutions spend billions of dollars there; it will happen, ”adds Lydon.
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