RATE Group | SEC will approve a bitcoin ETF in the next year: Abra CEO
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SEC will approve a bitcoin ETF in the next year: Abra CEO

04 Sep SEC will approve a bitcoin ETF in the next year: Abra CEO

Posted at 13:17h in Bitcoin News by

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Cryptocurrency bulls have been hopeful that the U.S. securities regulator will grant the first bitcoin exchange-traded fund (ETF) this year — but they’ve been left disappointed by a series of rejections and postponements.

Bill Barhydt, chief executive of bitcoin payment start-up Abra, said that’s because, so far, the applicants haven’t fit the financial archetype that the U.S. Securities and Exchange Commission (SEC) is looking for.

“I think the issue with the SEC, quite frankly, is that the people who are doing the applications don’t fit mold of who the SEC is used to approving,” Barhydt told CNBC’s “Squawk Box Europe” on Tuesday.

“I used to work for Goldman Sachs, but if you look at how I’m dressed you probably wouldn’t know it. So I probably, unfortunately, couldn’t go…

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