RATE Group | Central bank cryptocurrency will come sooner, expert says
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Central bank cryptocurrency will come sooner, expert says

07 Mar Central bank cryptocurrency will come sooner, expert says

Posted at 17:23h in Bitcoin News by

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Another bitcoin ETF bust.

The Securities and Exchange Commission last week issued yet another rejection to a prospective issuer, Wilshire Phoenix, for a bitcoin-based exchange-traded fund, the latest in a series of failed attempts by firms to push a bitcoin ETF past regulators.

Even so, market commentators struggle to believe this is the end of the road for the long-awaited fund.

“I doubt very heavily that it’s going to be the last straw,” Chris Hempstead, director of institutional business development at IndexIQ, told CNBC’s “ETF Edge” on Monday. “I think everyone will continue to listen to the feedback and the notes from the SEC, what their comments are, and they will continue to address it.”

“You’ll see a central bank cryptocurrency before you’ll see a bitcoin ETF.”

Nick Colas

Co-founder, DataTrek Research

If market and investor demand eventually tips the scales in bitcoin’s favor, the SEC will likely review the applications and could come to a different conclusion, Hempstead…

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