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
AI Boom Lifts US Stocks, Strategist Sees S&P Breaking 10,000 in Three Years, How Much Longer Can This Rally Last? U.S. stocks closed at record highs again on Monday; despite growing concerns that a prolonged conflict in Iran through the summer could trigger severe economic consequences, the rally rem
Author  TradingKey
13 hours ago
U.S. stocks closed at record highs again on Monday; despite growing concerns that a prolonged conflict in Iran through the summer could trigger severe economic consequences, the rally rem
placeholder
Gold drifts higher to near $4,750 ahead of US CPI inflation releaseGold price (XAU/USD) trades in positive territory around $4,750 during the early Asian session on Tuesday. The precious metal edges higher as traders assess developments in the United States (US)-Iran diplomacy and await key US inflation data, which is due later on Tuesday. 
Author  FXStreet
22 hours ago
Gold price (XAU/USD) trades in positive territory around $4,750 during the early Asian session on Tuesday. The precious metal edges higher as traders assess developments in the United States (US)-Iran diplomacy and await key US inflation data, which is due later on Tuesday. 
placeholder
When Will the Gold Dilemma Be Resolved? Breakdown of US-Iran Negotiations Puts Gold Prices Under Pressure Again, Can It Return to $5,000? Spot gold broke below the $4,700 level during the Asian trading session on May 11, dropping as low as $4,678. As of press time, it was trading at $4,670, in stark contrast to three days a
Author  TradingKey
Yesterday 10: 31
Spot gold broke below the $4,700 level during the Asian trading session on May 11, dropping as low as $4,678. As of press time, it was trading at $4,670, in stark contrast to three days a
placeholder
Hormuz Latest. Trump Rejects Iran Peace Plan; WTI Crude Hits $100 Again International oil prices surged in early Asian trading after U.S. President Trump and Iran rejected each other's latest long-term peace proposals. Both major crude oil futures rose by mor
Author  TradingKey
Yesterday 02: 45
International oil prices surged in early Asian trading after U.S. President Trump and Iran rejected each other's latest long-term peace proposals. Both major crude oil futures rose by mor
placeholder
Gold slumps below $4,700 on Trump rejection of Iran peace proposalGold price (XAU/USD) falls to around $4,690 during the early Asian session on Monday. The precious metal attracts some sellers after US President Donald Trump rejected Iran’s latest peace offer to end the 10-week conflict choking the Strait of Hormuz, fanning inflation fears. 
Author  FXStreet
Yesterday 01: 55
Gold price (XAU/USD) falls to around $4,690 during the early Asian session on Monday. The precious metal attracts some sellers after US President Donald Trump rejected Iran’s latest peace offer to end the 10-week conflict choking the Strait of Hormuz, fanning inflation fears. 
Related Instrument
goTop
quote