The Bitcoin ETF fund will not be launched until 2022

New York-based Wilshere Phoenix Financial Services co-founder William Kai recently predicted that the Bitcoin ETF fund would not be approved in the United States until 2022.

He still believes that such a fund will eventually be given the green light by the US Securities and Exchange Commission.

He added:

We believe that the Bitcoin ETF fund will eventually be launched in the United States, but this is unlikely to happen this year or next.

In June 2019, Wilshere Phoenix, in partnership with NYSE Arca, filed a lawsuit to open a Bitcoin ETF fund, and the lawsuit was filed in February 2020 amid concerns about market manipulation by the US Securities and Exchange Commission. United rejected.

The company criticized the decision of the US Securities and Exchange Commission at the time, declaring that the rejection of their application would be a great loss to the public.

William Kai believes that bitcoin will resume its uptrend, but believes that bitcoin's dominance will decrease and therefore can not be compared to gold.

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While the Bitcoin ETF fund has already been launched in Canada, Europe and Latin America, US officials have not yet accepted any of the requests.

Currently, 12 companies have submitted their applications for the Bitcoin ETF Fund to the US Securities and Exchange Commission.

Experts believe that with the launch of such a fund in the United States, bitcoin will rise sharply in price and it remains to be seen what will happen in the future.

Source: zoomarz