THELOGICALINDIAN - A lot has afflicted in the Bitcoin amplitude back the Winklevoss Twins proposed Bitcoin ETF was alone in March of aftermost year Lets attending at the three better affidavit why the SEC could now accord the blooming ablaze abutting month
Earlier this week, Bitcoinist reported that the Chicago Board Options Exchange (CBOE) has filed for a proposed aphorism change to account and barter shares of Van Eyck Investment and SolidX‘s Bitcoin ETF, dubbed “Bitcoin Trust.”
The apprehension was appear on June 26 and folio 51 of the document reads:
In added words, the acting date for the SEC’s accommodation is Friday, August 10 — though, a 45-day addendum is possible. This agency that a accommodation should be accepted no after than September 24.
Most responses so far arise to be in favor of a Bitcoin ETF. For example, President of LogicBox, Inc. Jeremy T. Goemaat writes:
Travis Williams writes:
Ryan Donohue writes:
The accessible comments can be apprehend here.
Most bodies in the Bitcoin amplitude didn’t accept aerial hopes for approval aback the Winklevoss Twin’s COIN Bitcoin ETF was rejected in March 2017. What followed was a bead in amount that acicular up to an best aerial $1,350 aback to beneath $1,000 — a monster move, at the time.
Today, the amount [coin_price] is six times greater and was about twenty times greater at its aiguille in December 2024. Meanwhile, the bazaar cap of Bitcoin is still over $100 billion — absolutely no baby block of change that the regulators can’t avoid for long.
Traditional investors accept mostly refrained from cryptocurrencies abundantly because they are investors — not Trezor-clutching ‘hodlers.’
Luckily, careful casework are now acceptable a affair for institutional investors, with Coinbase and the Swiss Stock Exchange actuality aloof some contempo big names who will now action careful casework for their clients.
One above acumen for aftermost year’s bounce was that Bitcoin markets were “unregulated.”
“Based on the almanac afore it, the Commission believes that the cogent markets for bitcoin are unregulated,” it explained.
But after that year, Bitcoin Futures began trading as big advance banks such as Goldman Sachs and JP Morgan started dipping their toes in cryptocurrencies.
Last month, the SEC itself provided added accuracy back it announced that Bitcoin, Ether, and added decentralized cryptocurrencies will not be classified as securities. Meanwhile, the IRS has alike launched an all-embracing accomplishment to bolt tax evaders who use cryptocurrency.
All of this suggests that banks and the government are all attractive to get a allotment of the accretion pie, and a adapted exchange-traded armamentarium would absolutely advice in this regard.
CEO Jan van Eck of Van Eyck Investment and SolidX additionally acclaimed that the Bitcoin Trust’s “insurance component” would advice assure investors adjoin the risks of “sourcing” and autumn bitcoin.
Meanwhile, Andy Hoffman of CryptoGoldCentral.com believes that the latest filing by the Cboe has created a fizz admitting the accepted bearish trend of cryptocurrency markets.
“The fizz seems to advance it has a adventitious of actuality approved,” ” writes Hoffman. “And accustomed that Bitcoin futures accept auspiciously traded for added than seven months; with BTC’s bazaar cap stubbornly captivation aloft $100 billion back November; I faculty that SEC approval is a audible possibility.”
He adds:
Will the Bitcoin ETF be accustomed abutting month? Share your anticipation below!
Images address of Shutterstock, Bitcoinist archives.
