According to an analyst at CFRA Research, VanEck, Fidelity Investments, and Valkyrie Digital Assets may not see their Bitcoin exchange-traded funds, or ETFs, approved by U.S. regulators for up to two years.
In an interview on CNBC’s ETF Edge Monday, Todd Rosenbluth, head of ETF and mutual fund research at CFRA, told host Bob Pisani that he believed the U.S. Securities and Exchange Commission, or SEC, would extend the timeline for considering the Bitcoin ETF first pitched by investment management firm VanEck in January. The SEC officially acknowledged receipt of the Bitcoin ETF application on March 15, giving the regulatory body until April 29 to come to a decision or extend the deadline.
“We’ve got a number of firms that have either gone through the filing process or have previously filed but are waiting for more clarity,” said Rosenbluth. “The SEC is less likely we think to try to pick a winner, as to who comes first and I think