The director of Digital Assets Strategy at VanEck made a bullish prediction during an interview with CNBC Crypto Trader hosted by Ran Neuner while explaining the possible outcomes from a successful Bitcoin ETF launch.
The comments came in the wake of VanEck’s persistent requests to the US securities regulator to approve their bitcoin ETF proposals. He acknowledged that there would be a likelihood of institutional dollars coming into the Bitcoin industry via securities, mainly because ETFs will be better prepared to maximize investor protection and minimize counterparty risks.
A Bitcoin ETF could attract billions of dollars in new investments, so the Securities and Exchange Commission (SEC) should treat pending proposals as an opportunity to regulate the crypto market Gurbacs said.
The main reason for this is because ETFs will be better prepared to maximize investor protection while at the same time minimizing counterparty risks.
A total of nine ETF’s have so far been rejected by the SEC. However, VanEck met with the SEC late last month to discuss the likelihood of an approved ETF. VanEck’s proposal in August was rejected, but now the investment management firm says the reasons for its earlier rejection have been resolved.