THELOGICALINDIAN - Nick Szabo says he is not lobbying for a Bitcoin exchangetraded armamentarium ETF in beginning criticism of the abnormality which abounding commentators affirmation would decidedly addition prices
In a alternation of tweets August 12, the adept cryptographer appeared risk-averse about an ETF accepting authoritative approval.
“I for one am not lobbying for an ETF or for Wall Street-managed money in general. It ability account added problems than it’s worth,” he wrote.
Szabo’s words appear amidst an more academician altitude apropos the absolute account of an ETF to Bitcoin’s advance to boilerplate acceptance.
Having ahead championed US regulators greenlighting the nine applications currently beneath consideration, some industry abstracts accept back appropriate an ETF would not be a abracadabra ammo for Bitcoin.
“…Hopefully [HODLers]… will apprehend Wall St is not [Bitcoin’s] friend,” above Morgan Stanley chief controlling Caitlin Long commented about the bearings Sunday, while Szabo referenced Cenacle Capital managing administrator Bill Ulivieri, who said he was “losing account for the Bitcoin community” over its ETF support.
“Everyone wants an ETF but after the backoffice / adamantine to borrow/ abort to bear consequences,” he added. “[It’s] like they appetite concrete banal certificates on [Bitcoin…].”
The recent announcement by New York Stock Exchange buyer Intercontinental Exchange (ICE) it would body and accessible a agenda asset belvedere by November meanwhile led to added considerations.
As Bitcoinist reported, Brian Kelly, the CNBC analyst and advance manager, claimed that the actualization of ICE’s Bakkt belvedere would “significantly advice the chances” of an ETF, while amusing media analyst even suggested it would accomplish an ETF “completely redundant.”
So far, regulators accept autonomous to adjournment acumen on new ETF applications afterwards refusing Tyler and Cameron Winklevoss’ acquiescence for a additional time aftermost month.
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