BitGo CEO Expresses Optimism for Bitcoin ETF Approval
According to Mike Belshe, CEO of BitGo, the signs are pointing toward a positive outcome for a spot Bitcoin (BTC) exchange-traded fund (ETF). He believes that approval is imminent but acknowledges that there will be challenges ahead.
Belshe, in an interview with Bloomberg, stated that discussions between firms seeking Bitcoin ETF approval and the United States Securities and Exchange Commission (SEC) are progressing positively. However, he cautioned that there may be another round of ETF rejections before ultimate approval is granted.
Improving the market structure is essential, according to Belshe. He highlighted the SEC’s requirement to separate crypto exchanges from custodians as a key condition for approving a Bitcoin ETF.
Referencing Sam Bankman-Fried, former CEO of the now-defunct crypto exchange FTX, Belshe noted the efforts to address regulatory concerns and make operations more efficient.
Hot Take: The Future of Bitcoin ETF Approval
The road to a Bitcoin ETF approval seems promising, but challenges remain in addressing regulatory concerns and enhancing market structure. The industry continues to push for progress towards approval, but it may face additional hurdles before achieving a favorable outcome.
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