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
Gold posts first weekly gain in three weeks — can $4,200 hold through CPI?Spot gold closed at $4,194.645, up 1.47% — its first weekly gain in three weeks — and COMEX futures settled back above $4,200 at $4,220.30. Here are the drivers, the levels and the scenarios into Wednesday's CPI.
Author  Irene Q.
15 hours ago
Spot gold closed at $4,194.645, up 1.47% — its first weekly gain in three weeks — and COMEX futures settled back above $4,200 at $4,220.30. Here are the drivers, the levels and the scenarios into Wednesday's CPI.
placeholder
US September CPI preview: inflation set to hit 3.7% — will the Fed hike in December?US September CPI lands Wednesday with headline inflation seen at 3.7% y/y and core at 0.2% m/m. December hike odds sit near 70% — here are the scenarios, the calendar and the key levels.
Author  Irene Q.
18 hours ago
US September CPI lands Wednesday with headline inflation seen at 3.7% y/y and core at 0.2% m/m. December hike odds sit near 70% — here are the scenarios, the calendar and the key levels.
placeholder
Gold Price Forecast: Gold Rebounds Above $4,200, Can Falling Oil Prices Drive Another Rally?As of Friday (October 9), gold prices (XAUUSD) rebounded noticeably after consecutive declines. During today's Asian session, gold prices briefly rebounded above $4,200, reaching an intra
Author  TradingKey
Yesterday 09: 23
As of Friday (October 9), gold prices (XAUUSD) rebounded noticeably after consecutive declines. During today's Asian session, gold prices briefly rebounded above $4,200, reaching an intra
placeholder
Hurricane Isaias has shut in a quarter of Gulf oil output — can WTI clear $92 before Thursday's EIA report?WTI trades at $90.80 after rebounding roughly 3% from Wednesday's $87.96 low as Hurricane Isaias — the Atlantic season's first — forces producers to shut in about 25% of US Gulf of Mexico output. Brent holds at $103.41. The first official read on the disruption arrives with the EIA weekly petroleum report on Thursday 15 October — here are the key levels and both scenarios.
Author  Irene Q.
Yesterday 06: 38
WTI trades at $90.80 after rebounding roughly 3% from Wednesday's $87.96 low as Hurricane Isaias — the Atlantic season's first — forces producers to shut in about 25% of US Gulf of Mexico output. Brent holds at $103.41. The first official read on the disruption arrives with the EIA weekly petroleum report on Thursday 15 October — here are the key levels and both scenarios.
placeholder
【Daily Brief】Gold rebounds 1% off a two-month low, Nasdaq drops 1.25% and yields ease — the storm premium keeps WTI near $91Gold trades at $4,174 after rebounding from Wednesday's $4,090 two-month low, the Nasdaq fell 1.25% while the Dow edged higher, and the 10-year Treasury eased to 5.23% from the week's highs. Hurricane Isaias keeps about 25% of Gulf output shut in with WTI near $91, and bitcoin holds below $82,000. The next scheduled tests are the EIA report on 15 October and the FOMC on 27-28 October.
Author  Irene Q.
Yesterday 06: 28
Gold trades at $4,174 after rebounding from Wednesday's $4,090 two-month low, the Nasdaq fell 1.25% while the Dow edged higher, and the 10-year Treasury eased to 5.23% from the week's highs. Hurricane Isaias keeps about 25% of Gulf output shut in with WTI near $91, and bitcoin holds below $82,000. The next scheduled tests are the EIA report on 15 October and the FOMC on 27-28 October.
Related Instrument
goTop
quote