Fatfish Internet Group CEO Liu Qin-Wei (Lau Kin-Wai) stated that the global markets are ready to “receive” exchange-traded funds that invest in bitcoin, within a “couple of months”. About this businessman said in an interview with CNBC this past Sunday.
During the recording of “The Coin Rash” Liu also expressed confidence in a steady increase in the cost of bitcoins, explaining its position as follows:
“This is a very strong wave; it is supported by demand from institutional investors, backed by a growing implementation. At the moment there is great interest trading volumes many times more than during recessions”.
The rate of bitcoin will stay above $8000, after time correction to $7700 at the end of last week. Despite the negative impact on the market news about the refusal to open ETF Winklevoss brothers (Winklevoss), quotes soon reached $8100.
Liu noted that the return to growth is “generally a good sign for long investors and those interested in this sector of the economy.”
Meanwhile, another five applications for the opening of the ETF from Direxion and one bid from Cboe await the Commission’s decision securities and exchange Commission (SEC). After the Agency received a negative decision on the application Winklevosses, one of the SEC commissioners, Hester Pearce (Hester M. Pierce) issued a note of disagreement with the decision, arguing that the SEC went beyond its “limited discretion”.
According to Liu, the trend of failures will not last long, and soon in the sphere of legal regulation of cryptocurrency will be a shift:
“I think we’re not that far; I think just a couple months from what the market everywhere will implement ETF”.
Meanwhile, Ethereum founder Vitalik Buterin said that ETF distract themselves representatives of industry and media attention from the important task of mass adoption of cryptocurrency for everyday use.
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