Will Bitcoin ETFs get the green light? Nitin Gaur of State Street believes it’s just a matter of time. Dive into his views on regulation and Bitcoin’s future.
Cryptocurrency enthusiasts and finance titans such as Grayscale, BlackRock, Fidelity, and Invesco eagerly await a crucial decision from the US Securities and Exchange Commission (SEC) on a batch of requests for spot Bitcoin ETFs. This decision could have a significant impact on the crypto market.
Nitin Gaur, Head of Digital Asset and Technology Design at State Street, shared his views on the likely approval of Bitcoin ETFs, expressing confidence that it will happen.
Crypto.news recently had the opportunity to sit down with Nitin Gaur at the SmartCon conference hosted by Chainlink in Barcelona. In this exclusive interview, Gaur delves into the future of Bitcoin ETFs, the current regulatory landscape in the United States, and provides insights into various possible scenarios that could shape the future price of Bitcoin.
Crypto.news: What’s your general opinion on Bitcoin ETFs? Considering the regulatory hurdles they face, do you think they have a future?
Nitin Gaur: Bitcoin ETFs currently involve Bitcoin futures, which are derivatives. The approval of spot-based ETFs is more challenging due to concerns about market manipulation. However, ETFs offer a convenient way for large financial institutions to access the crypto market and provide liquidity. So, they have a positive impact on both the ETF markets and the crypto markets.
The fundamentals and the desire for Bitcoin ETFs are strong. While the SEC’s concerns are valid and aim to prevent market manipulation. What we’ve seen in recent filing applications is that the industry is working on addressing these issues. Over time, it’s up to the industry to address regulatory agencies’ objections and gaps. I think that’s a healthy debate.
