- Tom Farley, president of the New York Stock Exchange, doesn't see a bitcoin ETF in the near term.
- A number of companies have pulled requests for a bitcoin-linked ETF amid regulator worries.
One of the most powerful men on Wall Street doesn't see an exchange-traded fund linked to bitcoin in the cards for the near term.
Tom Farley, the president of the New York Stock Exchange, told Bloomberg Thursday that it would take some time for regulators to approve such a fund.
NYSE Arca, a secondary exchange for ETF listings, lists more than 1,400 ETFs on its venue. A number of bitcoin-linked ETF have filed to list on NYSE but have since withdrawn requests after regulators expressed concerns about such a product so early in bitcoin's life-cycle.
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VanEck, which filed for its actively managed Bitcoin Strategy ETF on December 11, for instance, asked the SEC to withdraw that amendment. ProShares, which said it would launch a suite of bitcoin ETFs in September, also withdrew its request, according to a filing.
Ed Tilly, chief executive of Cboe Global Markets, told reporters during a media lunch in New York that the market would have to see a number of settlements in the bitcoin futures market before an ETF or any other type of exchange-traded product would get approved.