Nick Szabo: Bitcoin-ETF May Bring More Problems Than Profit
August 15, 2018
Well-known crypto researcher Nick Szabo claimed, he is against Bitcoin-ETF licensing.
“I for one am not lobbying for an ETF or for Wall Street-managed money in general. It might cause more problems than it’s worth. The recent sell-off by dumb money has or soon will deprecate many opinionated know-nothings in this space. We don’t need new ones to take their place”, he wrote in his Twitter.
Today rumors in the crypto community proliferate that the US SEC approving Bitcoin-ETF would propel significantly both BTC rate growth and the whole digital market development. Not all financial experts however support the idea.
“…Hopefully [HODLers]… will realize Wall St is not [Bitcoin’s] friend,” Morgan Stanley’s ex-CEO Caitlin Long commented on Szabo’s post.
Remember that recently the head of the investment fund Pantera Capital Dan Morehead has claimed he does not see any reason for worrying about SEC delaying its decision on Bitcoin-ETF approval and called for BTC community to shift their focus on the Bakkt crypto platform, the project by the intercontinental exchange ICE.