THELOGICALINDIAN - The barrage of Bitcoin futures affairs signaled the acceptance of Bitcoin into the amphitheater of boilerplate accounts ambience the date for the rolling out of Bitcoin exchangetraded funds ETFs In actuality aloof two canicule afore the barrage of Bitcoin futures three armamentarium managers anniversary requested authoritative approval for Bitcoin ETFs First Trust Advisors LP REX Shares LLC and Van Eck Associates Corp
Because ETFs assume to affiance aerial profitability, for the accomplished several months, armamentarium managers accept been aggravating to access the approval of the U.S. Securities and Exchange Commission (SEC) to barrage Bitcoin ETFs.
According to Reuters, Dave Nadig, CEO of ETF.com, declared:
To date, the SEC has alone all Bitcoin ETF applications because there was no adjustment in the Bitcoin market. Now things accept changed. CBOE launched Bitcoin derivatives on December 10, 2017, accouterment a adapted framework. As Spencer Bogart, arch of analysis for Blockchain Capital explained:
On December 8, 2017, aloof afore Bitcoin derivatives became a reality, First Trust Advisors LP, REX Shares LLC, and Van Eck Associates Corp, anniversary submitted applications with the SEC to barrage Bitcoin ETFs.
So far, the SEC has not been affable to Bitcoin ETFs. For example, the apple accepted that the SEC would accept the advertisement and trading of Winklevoss Bitcoin Shares, issued by the Winklevoss Bitcoin Trust, on March 11, 2017.
Hopes were high. At that time, Spencer Bogart, again an analyst at bazaar advance coffer Needham & Co., had predicted that $300 actor could access the Bitcoin ecosystem in the aboriginal anniversary afterwards the ETF was approved.
In anticipation, the amount of Bitcoin hovered abreast an best aerial acute the $1,200 USD barrier. However, disappointingly, the SEC alone the Winklevoss’s ETF application.
Reportedly, the Winklevoss twins accept reapplied for SEC approval. According to CNBC:
If the SEC approves any Bitcoin ETFs, absorption from institutional investors could actuate Bitcoin’s amount to incredible highs. However, if the SEC decides to adios the ETF applications, Bitcoin is acceptable to attempt and pause. Then, aural a abbreviate period, as usual, Bitcoin will best apparently bounce back, stronger, reinvigorated, and assertive to arise to new highs.
What do you anticipate about the abeyant appulse of the SEC approval or disapproval of Bitcoin exchange-traded funds (ETFs)? Let us apperceive in the comments below.
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