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QCP Capital: Bitcoin Spot ETF Unlikely in the Near Term

Summary: QCP Capital stated in a recent market update report that it is unlikely to see the first Bitcoin exchange-traded fund (ETF) in the US anytime soon. Despite increasing institutional involvement in the Bitcoin space, the current makeup of the U.S. Securities and Exchange Commission (SEC) means that spot ETF approval is highly unlikely. Under the ...

QCP Capital stated in a recent market update report that it is unlikely to see the first Bitcoin exchange-traded fund (ETF) in the US anytime soon. Despite increasing institutional involvement in the Bitcoin space, the current makeup of the U.S. Securities and Exchange Commission (SEC) means that spot ETF approval is highly unlikely. Under the leadership of current SEC Chairman Gary Gensler, the agency has filed lawsuits against major cryptocurrency exchanges, such as Binance and Coinbase. With Gensler serving as SEC head, QCP Capital said they are not confident that an ETF will get approved in the near term.

Author: Katie Lin

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