"Godfather of ETF" - BTC Exchange Traded Fund To be Approved in "No Time Soon"
Reggie Browne is Senior Managing Director and Head of ETF trading at Cantor Fitzgerald, a company that incorporated in 1945 and primarily involved in institutional equity, fixed income sales, and trading. Cantor Fitzgerald has more than 5,000 institutional clients, that comprise of commercial real state, prime brokerage, and investment banks.
Business Insider has reported on Nov 01, Browne a proclaimed "Godfather of ETFs" has said that Bitcoin Exchange Traded Funds (ETF) will be certified "No Time Soon". Commenting on the BTC ETF, Browne said;
"It's very difficult for the [Securities and Exchange Commission (SEC)] to wrap their heads around a positive approval because there's no data yet ... the markets just aren't here."
These statement were made by him while addressing at Georgetown University's Financial Markets Quality Conference in Washington D.C., In his opinion BTC ETF will be approved once a reliably functioned regulatory framework is developed in the industry.
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