Mark Yusko Confident in BlackRock’s Bitcoin ETF Approval: ‘Zero Chance of Denial’
The post Mark Yusko Confident in BlackRock’s Bitcoin ETF Approval: ‘Zero Chance of Denial’ appeared first on Coinpedia Fintech News
In a recent interview with Tony Edwards, Mark Yusko, Founder, CEO, & CIO at Morgan Creek Capital Management, shared his thoughts on the approval timeline for Bitcoin ETFs. The conversation touched on crucial dates, with Yusko suggesting a possible decision by mid-January.
Yusko expressed confidence in the approval of BlackRock and speculated on the timing, considering either the January 15th date or a potential delay until March 15th. Regardless, he stressed the significance of these events before halving, anticipating potential market fireworks.
The discussion extended to the prospect of an Ethereum spot ETF following the approval of a Bitcoin spot ETF. Yusko indicated that the approval might happen almost instantaneously, highlighting the resistance from big banks due to concerns about market manipulation and their ability to go “naked short.”
Yusko expressed his views on approving Bitcoin ETFs: “They either have to deny them, or they are deemed effective. And as I said, I think there’s zero chance when you should never say zero, but I think there’s zero chance that BlackRock doesn’t get approved. And so, does it happen on the January 15th date, or do they wait till March 15th? But in both cases, it’s before the halving, and you put that event in front of the halving, ooh, fireworks, baby.”
As the conversation delved into the global decentralized future, Yusko expressed concerns about potential regulatory obstacles, including outlawing Bitcoin’s self-custody. He emphasized the need for vigilance, considering the shift toward decentralized systems and potential challenges from traditional financial institutions.
Yusko touched on the increasing trend of banks launching crypto custody services, acknowledging their potential impact on the industry. He reminded viewers that custody in centralized systems is an abdication of control, urging users to remain vigilant in the evolving landscape of cryptocurrency.
Filed under: Bitcoin - @ November 25, 2023 7:12 am