NYSE president commends Bitcoin ETFs amid skeptical views from financial advisors

Source Fxstreet
  • Lynn Martin, the New York Stock Exchange group president, says you can't argue with the success of Bitcoin ETFs.
  • US financial advisors remain skeptical of Bitcoin ETFs amid market enthusiasm. 
  • An interview conducted by CNBC suggests that advisors are not recommending Bitcoin ETF investments, citing clients' safety as a reason.

Five months after the approval of Bitcoin ETFs, financial investors still show restraint in recommending the largest digital asset. However, Lynn Martin, President of the New York Stock Exchange (NYSE), praised the ETFs' resounding success in an interview on Friday.

Lynn Martin lauds Bitcoin ETFs

Lynn Martin, the president of the New York Stock Exchange (NYSE), commended Bitcoin ETFs' current successes in an interview with CNBC on Friday.

"I think you can't argue with the success of Bitcoin ETFs and the liquidity it has brought to the underlying markets," Lynn said.

Also read: Bitcoin Weekly Forecast: BTC likely to provide another buying opportunity

Lynn had earlier revealed her views on digital assets on Wednesday, stating her openness to cryptocurrencies and the NYSE's consideration for trading them if only the crypto market had clearer regulations.

Meanwhile, US financial advisors still have skeptical views on investments in Bitcoin ETFs. Despite the enthusiasm surrounding Bitcoin ETFs, including its recent feat of hitting 1 million BTC in assets under management (AUM), these experts still hold reservations about the number one cryptocurrency.

According to a CNBC report, most advisors stated that they are "neither initiating conversations nor fielding client inquiries about the ETFs." CNBC had surveyed a dozen members of an advisor council, including Baker. The results pointed out two major concerns of these individuals: volatility and regulatory uncertainties.

Read more: Bitcoin long-term holders begin re-accumulation after Semler Scientific and Mt Gox make major whale moves

Before the launch of Bitcoin ETFs, these advisors had previously cited Bitcoin's high volatility as a reason for their skepticism.

However, many of these advisors believe that consistent inflows in the ETFs over the years would lower Bitcoin's volatility, making it more adoptable.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Bulls Rout. Bitcoin Slumps Over 16% in a Week to Hit Bottom, Cryptocurrency Market Faces "Serial Liquidations"During the Asian trading session on June 5, Bitcoin extended its recent slump, falling more than 3.5% within 24 hours. It briefly broke below $62,000, hitting a low of $61,100, bringing i
Author  TradingKey
Yesterday 10: 01
During the Asian trading session on June 5, Bitcoin extended its recent slump, falling more than 3.5% within 24 hours. It briefly broke below $62,000, hitting a low of $61,100, bringing i
placeholder
Gold declines below $4,500 on stalled US-Iran ceasefire talks, US NFP data loomsGold price (XAU/USD) edges lower to near $4,470 during the early Asian session on Friday. The precious metal remains volatile amid ongoing geopolitical turmoil. Traders will closely monitor the developments surrounding the US-Iran peace deal and the US May employment report later on Friday. 
Author  FXStreet
Yesterday 01: 25
Gold price (XAU/USD) edges lower to near $4,470 during the early Asian session on Friday. The precious metal remains volatile amid ongoing geopolitical turmoil. Traders will closely monitor the developments surrounding the US-Iran peace deal and the US May employment report later on Friday. 
placeholder
Bitcoin Suffers Year’s Strongest Waterfall-Style Decline. Will It Next Drop to the $60,000 Mark?During the Asian trading session on June 4, Bitcoin continued its multi-day slump, briefly dropping below the $62,000 mark to $61,338. As of press time, Bitcoin was trading at $63,844, wi
Author  TradingKey
Jun 04, Thu
During the Asian trading session on June 4, Bitcoin continued its multi-day slump, briefly dropping below the $62,000 mark to $61,338. As of press time, Bitcoin was trading at $63,844, wi
placeholder
Bitcoin drops below $65K amid reinforced bear market signalsBitcoin (BTC) dipped further below $65,000 on Wednesday, with onchain data from Glassnode signaling a market firmly in a bear phase. The decline has pushed prices back into a key valuation range between the Realized Price and the True Market Mean.
Author  FXStreet
Jun 04, Thu
Bitcoin (BTC) dipped further below $65,000 on Wednesday, with onchain data from Glassnode signaling a market firmly in a bear phase. The decline has pushed prices back into a key valuation range between the Realized Price and the True Market Mean.
placeholder
Forex Today: US Dollar stays resilient ahead of key US dataHere is what you need to know on Wednesday, June 3:
Author  FXStreet
Jun 03, Wed
Here is what you need to know on Wednesday, June 3:
Related Instrument
goTop
quote