Bitcoin ETF issuers are not giving up.
The Securities and Exchange Commission recognized another bitcoin ETF recommendation last week, this one from VanEck. This is the latest of more than a dozen recommendations that have been tried by several companies over the years, and the second by VanEck.
The SEC now has 45 days to approve, reject or extend its review of the proposal. But with the Biden administration appointing officials to the SEC who have experience in cryptocurrency markets, an agreement may be closer than ever, said John Davi, CEO and chief investment officer at Astoria Package Advisors.
“It’s only a matter of time,” he told CNBC’s “ETF Edge” on Monday. “I think the time has come and there is room for a package of people for digital assets. “
Although Davi advised investors not to invest more than 5% of their records in crypto funds, “it is better to have a registered, round vehicle instead of going on an exchange and a ton of pay, “he said.
“There are plenty of other ETFs in the ecosystem that are a lot more obscure, with three times as much – you know, natural gas … and VIX futures – so I just think that this is the time for him, “Davi said.