”Bitcoin Needs ETNs“
The CEO of the CBOE stated that ETNs could be as effective as futures.
Ed Tilly, CEO of the Chicago stock exchange CBOE , said the Bitcoin market needs ETNs , a bond type . In this way, Wall Street institutions would be more easily involved in the world of crypto money, he added.
Tilly says the biggest obstacle to the growth of the Bitcoin market is that there are not enough derivative products for giant investors. The reason for drawing enough attention to Bitcoin futures products based on Tilly’y following these procedures and ETN ‘s failure. Futures trading is a good starting point for ETNA well as Wall Street firms.
Ed Tilly CBOE CEO
In his article published in Business Insider, Tilly announced that ETNs are more effective than futures for average investors. The ETNs have reduced the barriers of entering the crypto-money world. He added that the ETNs are as attractive as the least bad transactions.
Bitcoin ETF Approval
According to Tiily, regulators do not approve products traded in stock exchanges, such as ETF, because they are reluctant to control market manipulation. The regulators prioritize the need to protect investors. Therefore, it is thought that ETNs can be the answer to investor protection and they can convince regulators.
The previously recognized crypto-money entrepreneur and CNBC speaker Brian Kelly claimed that it was not possible to approve the ETFs in 2019 . However, CNBC is a well-known source of inverse indicators, so we can say that in 2019 ETF approvals can be made. At the same time, Bitwise’s application to the SEC for Bitcoin ETF was included in the news.