TL;DR Breakdown
- The CEO of Osprey Funds claims that the United States SEC has a lot of unfinished tasks.
- As a result, it would not be possible for the SEC to approve Bitcoin ETF in 2021.
- Osprey Funds CEO has been involved in talks with SEC regarding Bitcoin ETF approval.
A rival of GBTC; a way to buy and own Bitcoin in the form of stocks is provided by Osprey Funds, whose CEO is Greg King. The OBTC issuer company’s CEO has confirmed that he doesn’t see Bitcoin ETF approval in the offing this year.
Grey King is a prominent personality in the world of cryptocurrencies. During a recent one-on-one with two prominent members of Yahoo Finance, Seana Smith and Jared Blikre, Grey spoke on the possibility of Bitcoin ETF approval.
Bitcoin ETF approval not possible this year
Grey King had a lot to say during his recent meeting with Jared and Seana. The U.S. Securities and Exchange Commission is the body responsible for the Bitcoin ETF approval and a number of steps involved.
Under the guidance of Gary Gensler, the SEC has been dealing with a significant amount of approval requests and other financial integrations this year, which are coming from all directions.
As a result, Grey King has confirmed that according to him, the chances of Bitcoin ETF approval are pretty slim for this year. By the year 2022, the ETF can get approved, according to the CEO.
Summer downfall
According to King, there has been a huge surge in applicants to the SEC who wanted the approvals. He claims that this factor played a huge role in the bull run that we had witnessed at the start of 2021 and the end of 2020.
However, he also claims that the delays in decisions and approvals by the U.S. government and harsh remarks to issuing stablecoins have all contributed to the correction that followed the bull run.
