Former CEO of Goldman Sachs Group Inc. and former manager of hedge funds, Mike Novogratz, is optimistic about digital currencies and believes an exchange-traded fund (ETF) for bitcoin will be available before 2024.
At the Crypto Invest Summit in New York on Monday, Novogratz said, I think we're going to see an ETF approved in 2019. I think we're going to get one approved by the end of 2019.
Regulators may soon authorize a bitcoin ETF, as Novogratz and others have predicted. A bitcoin ETF that was developed by an exchange operator with a U.S. basis and satisfied certain requirements on transparency and liquidity would have the backing of New York's top financial regulator, who said as much last month. J Christopher Giancarlo, the head of the Commodity Futures Trading Commission (CFTC), said that he would review a proposal for a product of this kind provided it would not violate any other federal regulators' regulations and was not manipulative or deceptive.