Ric Edelman: Bitcoin ETF is “virtually certain”

• Financial markets analyst and founder of Edelman Financial Services, Ric Edelman believes that Bitcoin ETF launch is virtually certain.
• Edelman also said that while ETF proposal has taken longer than expected, things are going to speed up soon since many serious players have entered the space.

Financial markets analyst and founder of Edelman Financial Services, Ric Edelman said that a Bitcoin exchange-traded-fund (ETF) will “certainly” be launched soon. Edelman told CNBC:

“The SEC [US Securities and Exchange Commission] has several legitimate thoughtful concerns that the industry has to overcome but I’m confident they will. Eventually we will see a bitcoin ETF and it’s at that stage that I will be much more comfortable recommending that ordinary investors participate”¦.It’s virtually certain. The only question is when.”

The ETF proposal has taken longer than expected, but according to Edelman, things are better now because many serious players have entered the space:

“We’ve [now]got some serious players [in the crypto space]. Fidelity has made a major announcement in the custody issue. We’ve got Kingdom Trust and a number of other very serious players on the custody side. I’m confident that in very short order VanEck or Bitwise will satisfy the custody concern to the SEC.”