One of the top managers of the BlackRock mark Weidmann, the largest management company, sees no point in the creation of exchange-traded funds(ETF) tied to the price of bitcoin, as he said in an interview for Bloomberg.
In his opinion, these ETF no future. He also advises other ETFs that BlackRock already offers. And bitcoin in this list are not included. He recalled that several companies tried to launch similar products, but to this day the SEC denies them, citing the lack of preparedness of the market to such instruments.
“In any case, I don’t see much point in a bitcoin ETF, because we are talking about commercial products, access to which is restricted. If bitcoin ever succeed, none of my business, of course, I still wouldn’t recommend it. But if he succeeds, why will you use ETF to work with him?” he said.
At the same time, the head of BlackRock, Larry Fink said that he firmly believes in the potential of cryptocurrencies. However, he added that market speculation and the use of cryptocurrencies for money laundering prevented the realization of this potential.
Recall that the company Evolve to create the first Funds in Canada investment Fund linked to bitcoin exchange rate.
See also: Swiss city coming to collect taxes in bitcoin