William Cai, co-founder of investment firm Wilshire Phoenix, is the latest person to cast doubts on the possibility of a Bitcoin (BTC) exchange-traded fund (ETF) approval in the United states of america in 2022.

Speaking to Business organisation Insider, Cai remarked that a Bitcoin ETF in 2022 is unlikely equally he offered 2022 and 2023 as the primeval possible times for the U.S. Securities and Substitution Committee to greenlight a BTC ETF.

Several Bitcoin ETF hopefuls currently have filings with the SEC, including fund direction outfit Global X, which submitted before in July.

The SEC has thus far elected to delay its decision on the pending ETF submission, and Cai expects the commission to deny these applications, stating, "Nosotros call up they are all going to go stuck."

Cai has some experience with the SEC's handling of Bitcoin ETF applications. As previously reported by Cointelegraph, the committee rejected Wilshire Phoenix's Bitcoin ETF filing in Feb 2022, much to the company's disappointment.

According to Cai, despite the irresolute of the guard at the SEC'due south leadership with Gary Gensler as the new chairman, the committee'due south stance on Bitcoin ETFs remains the same. "I've seen nix that suggests there's been a switch in their thinking," Cai added.

Every bit part of the interview, the Wilshire Phoenix co-founder stated that price manipulation remains a major business organisation for the SEC.

Related: Osprey Funds CEO says US volition approve Bitcoin ETF in 2022 'at primeval'

Cai is non the only person to bandage doubts on a Bitcoin ETF happening in 2022. In June, Greg King, CEO of Bitcoin trust issuer Osprey Funds, marked 2022 as the earliest estimate for an SEC-approved BTC ETF.

At the time, King stated that Bitcoin ETFs were non high on the list of priorities for the SEC. Cai also offered the same statement, telling Insider that the commission was focused on regulating meme stock, environmental, social and governance compliance, and the Robinhood initial public offering.