A lot has changed since the Bitcoin ETF proposed by the Winklevoss twins was rejected in March last year. We would like to explain in detail why it is very likely that the important Bitcoin ETF could get the green light on 10.08.2018.
All demand that the Bitcoin profit be approved
Earlier this week we reported that the Chicago Board Options Exchange (CBOE) had requested a proposed rule change for the listing and trading of shares of Van Eyck Investment and SolidX’s Bitcoin profit, called “Bitcoin Trust”. This is not a scam according to onlinebetrug.
The provisional date for the SEC’s decision is Friday 10 August, but it may be extended by 45 days. This means that a decision is expected by September 24 at the latest.
Most statements so far seem to be in favour of a Bitcoin ETF. For example, President of LogicBox, Inc. Jeremy T. Goemaat writes:
I support the listing and trading of shares of SolidX Bitcoin Shares…. This fund is aimed at wealthy investors, so I don’t see any risk for private investors… I think an ETF that is actually covered by Bitcoin, unlike futures, is much healthier for the market and will bring more stability.
Ryan Donohue writes about the Bitcoin revolution:
We urge that this Bitcoin revolution be approved to signal more companies to engage in more regulation and to make this market safer for those who want to engage: https://www.onlinebetrug.net/en/bitcoin-revolution/
Bitcoin price exploded
Most people in the Bitcoin room had no great hopes of approval when the Winklevoss Twin’s Bitcoin ETF was rejected in March 2017. What followed was a price drop from $1,350 to less than $1,000.
Today the price is six times higher and was almost twenty times higher in December 2017. Bitcoin’s market capitalisation is now still over $100 billion – certainly not an insignificant bit of change that regulators cannot ignore in the long run.
During this period, Bitcoin was on everyone’s lips, so authorities had to deal with the issue of regulation. The infrastructure around Bitcoin and its attention in the media is stronger than ever, because almost everyone has heard of the crypto currency.
Custody solution offers professional custody
Traditional investors have usually refrained from using crypto currencies, as there is no professional custody solution. Most wealthy investors are unlikely to buy a wallet, but want to rely on services that manage their deposits.
Just recently, we reported that Coinbase introduced the so-called custody solution, which allows traditional investors to keep their deposits safe. In the future, more companies, if not major banks, will follow, offering such a service. Such a service can bring in a lot of money and I think most banks will not miss it.