# altcoin / # bitcoin / # blockchain / # exchange / # events / # ICO / # trends / # finance / # Russian news

Former NYSE President Says This Catalyst Will Trigger Flood of Cash Into Bitcoin and Other Crypto Assets

The former president of the New York Stock Exchange (NYSE) says that one catalyst will inundate cash into Bitcoin (BTC) and other crypto assets.


In a new interview with CNBC Television, Tom Farley, the former president of NYSE and current chief executive of the crypto exchange platform Bullish, says that Bitcoin exchange-traded funds (ETFs) will flood the king crypto and the digital assets industry with cash.



However, Farley notes that he’s not optimistic that a BTC ETF will be approved this year.


“I guess I’m a little less optimistic of the immediacy of an approval, in other words, like November or even December. The current Chairman and the SEC (U.S. Securities and Exchange Commission) have said they believe that pretty much everything in crypto, with the exception of Bitcoin, sometimes Ethereum, and possibly stablecoins are securities.


And securities, at least in the United States, need to trade on a nationally-recognized exchange and they do not today. And I think these two issues, at the moment, are interwoven. That doesn’t mean they can’t be decoupled, but I think there’s a view that ‘Hey, if these don’t trade on an exchange, how do we know that the underlying prices are trustworthy?’”


Farley goes on to say while he may not believe BTC ETFs will be approved this year, the fact that regulators and investors acknowledge that Bitcoin isn’t a security may speed up the approval process.


“The thing about Bitcoin that gives me some optimism is that everyone acknowledges Bitcoin is not a security, including the regulators, so possibly the Bitcoin ETF does go ahead more quickly, which would be great for the industry because money will flood into the industry with a Bitcoin ETF. It’s just easy to buy.


People believe in Bitcoin, Bitcoin is going to be here, Bitcoin is a great invention. It just is. It is a store of value, I know it’s volatile, [but] it is a store of value.”



I


Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox



Check Price Action



Follow us on Twitter, Facebook and Telegram



Surf The Daily Hodl Mix





Check Latest News Headlines




 


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.


Generated Image: Midjourney


The post Former NYSE President Says This Catalyst Will Trigger Flood of Cash Into Bitcoin and Other Crypto Assets appeared first on The Daily Hodl.