Morgan Creek CEO Mark Yusko, in an interview with MarketWatch, expressed his firm belief that the US Securities and Exchange Commission (SEC) will eventually give the green light to Bitcoin exchange-traded funds.
“It will eventually happen, this is our view of ETFs,” stressed Yusko.
Morgan Creek’s partners include San Francisco-based Bitwise, which applied to launch ETFs in 2019 and 2021.
VanEck, WisdomTree, NYDIG, Bitwise, Valkyrie Digital Assets, SkyBridge Capital and First Trust Advisors sent similar documents to the US Securities and Exchange Commission. To date, none of the applications has been approved.
“Basically, we see bitcoin as a late-stage venture capital investment,” said the head of Morgan Creek. “Instead of buying a stock, you are actually buying the protocol itself in order to have the network.”
Recall that Grayscale Investments intends to convert a Bitcoin trust into an ETF based on the first cryptocurrency.
The company filed its first ETF launch application back in 2016, but it was withdrawn due to insufficient regulatory frameworks.
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