Crypto-Expert Brian Kelly Says 2019 Will Bring No Approval to BTC ETF

post image

For the past year, various ETF-projects have been failing to receive the green light from American regulators. And despite the bullish ambitions of twin-entrepreneurs Winklevoss concerning bitcoin-ETF the situation is expected to remain unchanged. At least, that’s what Brian Kelly, a regular contributor to CNBC, as well as cyber money entrepreneur, believes.

2019 Might Be Better For Cryptos In General But Not For ETFs

In a conversation with Cointelegraph’s rep at the recent Crypto Finance Conference in Switzerland, Brian Kelly touched upon the future of cryptos and ETFs in 2019. Concerning the latter, he claimed that a bitcoin ETF is unlikely to get approval from the SEC.

Bitcoin ETFs

In particular, the crypto entrepreneur said that there is «no shot» for BTC ETF’s approval by the American government. Meantime, in the crypto-community, the green light for such an investment fund is highly anticipated. Many crypto-experts believe that bitcoin ETFs will allow funds of significant institutional investors to flow into the market.

Within the last year, the SEC received many applications for BTC ETFs from different actors. Among them, there were Winklevoss brothers. However, none of them was approved.

Kelly explained that in the foreseeable future the agency will not change its hardline stance on such ETFs due to many unresolved issues. The latter, as the expert predicted, might be solved not earlier than within a year.

Interestingly, last year summer Kelly forecasted that the approval of the BTC ETF would not occur earlier than in this year’s February. The expert said that the bitcoin futures market was not developed enough — the notion earlier expressed by the SEC. In spite of this, Kelly back then admitted that this market was evolving fast.

State of Cryptos

Talking about the future of the cyber-money industry in general, CNBC’s contributor forecasted that this year will be better for the market than the previous.

The expert claimed the bearish period will soon come to an end. However, we should expect another fall in the market. Kelly added that primarily in 2019 the focus will be on such currencies as BTC, LTC and some others. Moreover, Kelly said, bitcoin will see a higher level of adoption among most popular investors.

«We are starting to see some global macro players use Bitcoin as an alternative to their gold position, or as a way to hedge against fiat currency fluctuations and volatility,” asserted the analyst.

Kelly concluded his account by stating that the world will go through another financial crisis, different from the one we saw a decade ago. Yet, believes he, it would be a great chance for cyber-coins to become a practical alternative to public currencies. It is important to note that the first crypto — bitcoin — allegedly was created after the 2008 collapse as a challenge to the existing financial and banking systems.

Forget The Ban: Google to Make an Exclusion for Crypto Ads in Japan, US
Half a year ago the technological titan Google shook the crypto-world up by announcing its ban on crypto-related ads. The same year other giants like Facebook,...
No Use Of Blockchain If It Doesn’t Make The World Greener, Jack Ma Says
Jack Ma, who is to leave the position of Alibaba’s chairman next year, has spoken with the regard to DLT again. The charismatic founding father of the Chinese...
Last Year 80% of ICOs Were Scams, Research Shows
It is time to reiterate the all-time crypto-mantra: invest in cyber coins only the amount you can afford losing. It is time for a reminder as over 80% of...
Exchange’s Founder Says BTC Will Skyrocket to $50,000 By The End of 2018
Since the time when the most valuable cyber coin reached its upper limit of $20,000 in mid-December 2017, it has never approached this record ever again....
Mastercard Blames It On Cryptos For Unpleasant First-Quarter Growth Results
This year a range of large American and British banks barred their customers from purchasing cryptos using their credit cards. That has been done in order...
Coinbase Acquires Crypto Portal Earn And Hires A Key Exec
Cyber money trading venue Coinbase brings on Balaji Srinivasan as the first-to-be CTO on par with acquiring portal Earn.com, which was founded and has...
Blockchain Technology To Be Tested In Porsche Panamera
German automaker Porsche in cooperation with the Berlin start-up XAIN has begun testing the technology of blockchain in Porsche Panamera cars. The technology...
Venezuela Says Petro Raised $735 mln in The First Day of Pre-Sale
Just a little bit more than 24 hours ago Venezuela finally instructions for purchasers as well as the manual on how to prevent money laundering. Also,...
Bitcoin Goes Below $7,300 After Large Banks Ban BTC Purchases With Credit Cards
On February 5, bitcoin’s price has fallen below the margin of $8,000 – again after Friday’s decrease to $7,695. This time, the drop is formidable as it...
Central Bank Offers Support to Miners, But Bucks Crypto Trading in Russia
Things are heating up around Russia’s crypto regulatory plot. After the announcement that the country’s largest lender Sberbank has intentions to trade...
Researchers Proved That Bitcoin’s 2013 Leap From $150 to $1,000 Prompted by One Person
There has been a lot of speculation concerning the possibility of some people or groups of people to trigger bitcoin’s price. For example, Russian Kaspersky...
Hackers Cracked the DNS-server Of BlackWallet And Stole $400 Thousand In The Cryptocurrency
Unknown hackers broke into the DNS server of the BlackWallet.co service, which provides Web-wallets for the Stellar Lumen (XLM) cryptocurrency. They stole...
Bitcoin At Premium: How BTC Prospers in Africa
Years ago media predicted the rise of bitcoin in the emerging-market countries. Unsurprisingly, that’s what is happening today. Bitcoin and its brethren...
Decentralized Crypto And Blockchain Market Could Cost $10 trillion – RBC Analyst
On December 3 there was published a fresh report by Royal Bank of Canada’s analyst, which points out that in total crypto, blockchain and decentralization...
Why Bitcoin is Growing so Phenomenally? $110,000 Soon?
Why Bitcoin is Growing so Phenomenally? $110,000 Soon? Bitcoin continues to amaze participants of the cryptocurrency market and the investment community...