William Cai, the co-founder of the investment company Wilshire Phoenix, is the latest person to doubt the possibility of Bitcoin (Bitcoin) The Exchange Traded Fund (ETF) was approved in the United States in 2021.
Talk to business insiders, Cai Comment He believes that the launch of a Bitcoin ETF is unlikely in 2021, because he proposed that 2022 and 2023 are the earliest time for the US Securities and Exchange Commission to approve the BTC ETF.
Several Bitcoin ETF candidates have currently submitted documents to the U.S. Securities and Exchange Commission, including Fund management agency Global X, submitted in early July.
So far, the US Securities and Exchange Commission has chosen to postpone its decision on pending ETF submissions, and Cai expects the committee to reject these applications, stating: “We think they will all be stuck.”
Tsai has some experience in processing Bitcoin ETF applications with the US Securities and Exchange Commission. As previously reported by Cointelegraph, the committee rejected Wilshire Phoenix’s Bitcoin ETF application in February 2020. Disappointed the company.
According to Cai, despite the change in the leadership of the SEC, with Gary Gensler becoming the new chairman, the committee’s position on the Bitcoin ETF remains unchanged. “I don’t see any signs that their thinking has changed,” Cai added.
As part of the interview, the co-founder of Wilshire Phoenix stated that price manipulation remains a major concern for the SEC.
At the time, King stated that Bitcoin ETFs were not high on the SEC’s priority list. Tsai made the same argument, telling Insider that the committee’s focus is on overseeing meme stock, environmental, social and governance compliance, and Robinhood’s initial public offering.