EXCLUSIVE: Former FTX Exec Brett Harrison Fed Up With 'Lack Of Crypto Rules,' Says Bitcoin ETF Event Not Yet 'Priced In'
Portfolio Pulse from Chris Katje
Former FTX US president Brett Harrison discussed the potential approval of Bitcoin ETFs and the impact on Bitcoin's price at a private roundtable. He expressed dissatisfaction with the lack of crypto regulations in the US and compared it to other countries that are further along. Harrison, now CEO of Architect, a financial technologies company, also spoke on the importance of both self-custody and third-party custody in the crypto space.
November 17, 2023 | 6:45 pm
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POSITIVE IMPACT
Brett Harrison's comments suggest that the approval of a Bitcoin ETF could significantly impact Bitcoin's price, as it's not fully priced in. This could lead to increased trading volume and potentially higher prices.
The anticipation of a Bitcoin ETF has historically led to price increases for Bitcoin. Harrison's remarks imply that the market has not fully accounted for the potential approval, suggesting a positive price movement if it occurs.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
The approval of a Bitcoin ETF could pave the way for ETFs of other assets like Ethereum, potentially increasing Ethereum's visibility and trading volume.
Harrison's prediction that a Bitcoin ETF could lead to ETFs for other assets like Ethereum suggests a positive outlook for Ethereum, as ETFs would likely increase institutional interest and investment.
CONFIDENCE 65
IMPORTANCE 65
RELEVANCE 60