News : Pantera Capital CEO said People Should Be Focused on Bakkt and not on ETF

Hi Steemians,

I think people are over reacting to the delayed news related to ETF, please check out the below statements from CEO of Pantera Capital:

"The problem here is that we are no closer to a Bitcoin ETF despite a novel approach to getting around the issue that bothers the SEC... A decision was put off until September 30th, but don't kid yourself: the SEC is likely not considering anything other a lengthy brief on why they will deny the ETF at that time, just as they denied the Winklevoss Bitcoin ETF last month. The reason they are likely to deny it is that it just doesn't fully address the issues that worry the SEC about Bitcoin."

"I think the main thing to remember is that Bitcoin is like very early-stage venture, but has a real-time price feed, and that's a unique thing... People get really excited about the price and overreact, I think, to the announcements... The ETF rejection is the same story we've had for five years. I think the SEC has been very cautious with an ETF."

"In the last three or four business days, we've had two pieces of news. The ETF being rejected for the fifth time—that doesn't seem very interesting to me. But on Friday, the parent company of the New York Stock Exchange, which also owns $42 billion of other exchanges, launched a cryptocurrency exchange called Bakkt. That is huge news. That is going to be a very profound impact over the next five or 10 years for the markets, and, to my mind, that's what people should be focused on."

Ref : https://www.cryptoglobe.com/latest/2018/08/pantera-capital-ceo-people-should-be-focused-on-bakkt-huge-news-and-not-on-bitcoin-etf-rejections/

Cheers