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A senior managing director and head of ETF trading at financial services firm Cantor Fitzgerald, Reggie Browne, the so-called godfather of ETFs, stated that there is no possibility for bitcoin-ETFs to be approved in the foreseeable future, according to the report of Business Insider.

As it was also noted, the main reason for this is the absence of a strong regulatory framework in the industry that prevents SEC from to making a positive decision about bitcoin-ETFs.

Cantor Fitzgerald focuses on institutional equity, fixed income sales, and trading. The company reportedly has over 5,000 institutional clients, which includes such fields as investment banking, prime brokerage, and commercial real estate.

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