CNBC senior market reporter Bob Pisani expects Bitcoin ETFs to potentially see an improvement, perhaps this weekend, most likely on Monday or Tuesday.
In a recent speech, Pisani underlined that expectations for the approval of Bitcoin ETFs are increasing. Emphasizing the importance of these ETFs, he noted that there are currently 13 spot Bitcoin ETF applications awaiting evaluation. Pisani compared the potential impact of Bitcoin ETFs to the development of gold ETFs, drawing a similarity between the two investment instruments.
Comparing future Bitcoin ETFs to gold ETFs, Pisani explained that a custodian would secure its clients' BTC and provide investors with a more secure and accessible way to trade digital assets without the complexities associated with owning and securing them independently.
Citing his experience with gold ETFs two decades ago, Pisani talked about the convenience they offer investors by eliminating the need to physically own and store precious metals.
While Pisani expressed reservations about the utility of Bitcoin as an asset class, he said it was important to provide a safe investment path for those who want to own BTC. He explained that the approval of BTC ETFs will provide a more secure and regulated framework for investors to participate in the cryptocurrency market.
*This is not investment advice.
