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
SpaceX Listing Imminent. Funds Flood Into SpaceX On-Chain Tokens, Bitcoin Rebound Momentum May Be WeakenedPerpetual contracts and pre-market tokens for SpaceX are attracting liquidity from the cryptocurrency market, hindering a further rally in Bitcoin.On June 11, Bitcoin ( BTC) continued to
Author  TradingKey
7 hours ago
Perpetual contracts and pre-market tokens for SpaceX are attracting liquidity from the cryptocurrency market, hindering a further rally in Bitcoin.On June 11, Bitcoin ( BTC) continued to
placeholder
Gold Prices Narrowly Hold $4,000 Level, When Will Precious Metals Selloff Stop? On June 10, Eastern Time, spot gold ( XAUUSD) fell through the $4,100 level during intraday trading after four consecutive sessions of selling, nearing the $4,000 psychological threshold;
Author  TradingKey
14 hours ago
On June 10, Eastern Time, spot gold ( XAUUSD) fell through the $4,100 level during intraday trading after four consecutive sessions of selling, nearing the $4,000 psychological threshold;
placeholder
US-Iran Tensions Escalate. Iran Announces Closure of Strait to All Vessels; Brent Crude Hits $95 The U.S.-Iran conflict continues to escalate, driving oil prices sharply higher. On Wednesday, Brent and WTI crude futures both closed higher, breaching $90 per barrel. During Thursday's
Author  TradingKey
14 hours ago
The U.S.-Iran conflict continues to escalate, driving oil prices sharply higher. On Wednesday, Brent and WTI crude futures both closed higher, breaching $90 per barrel. During Thursday's
placeholder
Iranian military drones targeted US Fifth Fleet in Bahrain in response to southern US strikesThe Iranian military announced in a statement that it had launched a drone operation against the US Navy’s Fifth Fleet based in Bahrain, in response to the violation of the ceasefire and US military attacks on areas in southern Iran, Reuters reported on Thursday. 
Author  FXStreet
14 hours ago
The Iranian military announced in a statement that it had launched a drone operation against the US Navy’s Fifth Fleet based in Bahrain, in response to the violation of the ceasefire and US military attacks on areas in southern Iran, Reuters reported on Thursday. 
placeholder
BTC Hovers Near 60,000 Mark After Plunge. US May CPI Set to Be Revealed, How Is Wall Street Betting?Bitcoin's rebound falters as the U.S.-Iran conflict and CPI data likely sustain downward pressure.On June 10, escalating U.S.-Iran tensions put the already fragile crypto market to the te
Author  TradingKey
Yesterday 09: 57
Bitcoin's rebound falters as the U.S.-Iran conflict and CPI data likely sustain downward pressure.On June 10, escalating U.S.-Iran tensions put the already fragile crypto market to the te
Related Instrument
goTop
quote