As reported by Forbes and other news outlets, ETF Trends CEO Tom Lydon appeared on CNBC’s ETF Edge on Monday, and the potential for a Bitcoin ETF approval in 2020 was a key topic of conversation. The launch of an ETF for the popular digital currency has been what digital asset enthusiasts have been anxiously waiting for in the US for some time. Amongst other things, the fund opens the doors to many traditional investors who can then diversify their portfolio with a digital currency, something not previously available.
As Mr. Lydon pointed out during his appearance: “What it [does] is basically approve that it’s filed as publicly traded, so you can, like a regular mutual fund, like the Magellan Fund, there’s a sister mutual fund out there where you can invest in Bitcoin,” explained Lydon. “However, it’s limited to only $25 million at this point.”
While 60% is not great odds, recent actions and filings with the SEC by notable digital asset firms and exchanges in the US, as well as efforts in Asia to launch similar products may drive the markets to accept this type of fund sooner, rather than later.
Check out the full interview below.