SEC-Approved Bitcoin ETF Possible in 18 months: Crescent Crypto CEO
The US Securities and Exchange Commission (SEC) could approve a Bitcoin ETF in the next 18 months, said Ali Hassan, the CEO, and one of the three co-founders of asset manager Crescent Crypto. Hassan, a former Goldman Sachs executive, was speaking at Bloomberg Markets studios about the considerable potential of passive management strategies in cryptocurrency markets. On being asked about the SEC’s rejection of Winklevoss Bitcoin ETF twice in a row, he acknowledged the US regulator’s concern about investors’ protection. However, Hassan proposed passive investments as a solution to reduce some of those concerns, saying that they will “actually increase the participation in the [cryptocurrency] market.” “We do think that a product is coming soon,” said Hassan. “Perhaps, in the next 18 months, we’ll see a Bitcoin-only ETF.” Hassan continued by mentioning some exciting projects in the Bitcoin ETF space, mainly putting VanEck on his look-out list. VanEck has attempted – after failing twice – to address the regulator’s concerns by inflating its Bitcoin ETF’s share value; thereby, making it unrealizable for retail investors. Currently, each VanEck share represents approximately 25 Bitcoins .