While there s obviously no precedent to work with we can look at the performance of one of the commodities that bitcoin is very frequently compared to gold. Perhaps one of the most discussed questions is whether a potential approval of a bitcoin etf drives any significant increase in bitcoin price. Sec chairman jay clayton is nominated by president donald trump to serve as the new united states attorney for the southern district of new york.
Clayton s impending exit as the sec chairman has many people speculate how the change will affect the cryptocurrency industry including the likelihood of a bitcoin etf being approved by the sec. But the chance for an. Chances of a bitcoin etf approval skyrocket in the past years the securities and exchanges commission sec rejected several proposals for bitcoin exchange traded funds.
Watch the video to learn more. Also i ll use technical analysis on the bitcoin price to make a bitcoin price prediction. Will hester peirce the sec commissioner approve the btc etf on tuesday.
The bitcoin price is going up and is the rumor about the bitcoin etf true. Bitcoin technical analysis bitcoin news today. A bitcoin etf is coming.
However unless the bitcoin market matures to a level with which the sec is comfortable we will probably have to wait a little longer. In light of the current approval timelines the earliest we could see a bitcoin etf would be anywhere from the coming months to the end of 2019. Investing in a bitcoin etf cuts out any issues of complex storage and.
A bitcoin etf mimics the price of the digital currency allowing investors to buy into the etf without trading bitcoin itself. The facebook famous winklevoss twins first filed for a bitcoin etf in 2013 launching a yearslong fight for approval with the sec that ended in. The road to bitcoin etf approval has been a long one.
The approval of a publicly traded bitcoin etf would also very likely boost the price of bitcoin to new highs as the above mentioned institutional investors as well as private investors who are not very versed in technology would now be able to freely invest in the digital currency through the etf.
