Bill Barhydt, founder of bitcoin wallet app Abra, said the U.S. Securities and Exchange Commission (SEC) would approve a bitcoin exchange-traded fund (ETF) within a year once the financial regulator feels comfortable with the caliber of the applicants.A bitcoin ETF would allow investors to purchase bitcoin through funds listed on a regulated, legacy stock exchange. Like the bitcoin futures contracts that came before it, a bitcoin ETF is seen by many as the bridge that will encourage institutional investors to cross over to the emerging crypto market.Speaking on CNBC's The Coin Rush, Barhydt said the SEC’s refusal to approve any bitcoin ETF application is down to the individuals filing them, who he claims "don't fit the mold" of those the SEC is “used to approving." Barhydt seems to suggest that in order for an exchange or financial organization to receive approval for a bitcoin ETF, the entity has to be one that "looks, feels and smells" like something that the SEC is accustomed to."I used to work for Goldman Sachs, but if you look at how I'm dressed you probably wouldn't know it. So I probably, unfortunately, couldn't go like I am here to a meeting at the SEC to say I'm applying for the ability to issue an ETF," he added.He believes, however, that the SEC will approve a bitcoin ETF next year as there is just too "much demand for it" from the community. "It's going to happen in the next year; I would ac... For Further Information Click on Below Button