A few things are keeping Bitcoin on its toes, including an apparent break-up between Elon Musk and the cryptocurrency, along with the SEC’s decision to delay the decision on Bitcoin ETF applications again – this time for WisdomTree.
Lydon goes further to say: “The ETF and mutual fund businesses are looking very closely at all of this, as there’s a line around the corner at the SEC for applications for Bitcoin ETFs.
Looking at what is holding things up for an actual ETF, as opposed to something like the Bitwise Crypto Industry Innovators ETF that is a proxy for cryptocurrencies, it comes down to concern for securities and the plumbing in the crypto space.