What's an ETF ? ‼
An ETF, or Exchange-Traded Fund, is a Marketable Security That tracks an Index, a Commodity, Bonds, or a Basket of Assets like an Index Fund.
A Bitcoin ETF Will Track The Bitcoin Benchmarking Index and Will Replicate it's IntraDay Performances, Which Allows Peoples With a Brokerage Account to Invest in Cryptocurrency Without Having to Worry About The Challenges of Buying, Selling, Storing and Safekeeping it.
Previously We Had The Similar Situation When Bitcoin Future Contracts i.e. Chicago Board Options Exchange (CBOE) Were Implemented on 10th Dec 2017 and Due to That Big News Bitcoin Pumped Up to The Hell
If This BITCOIN ETF Gets Approved, Then We Will be Having The Similar Kind of Situation on 10th August 2018 and This is Going to Be Catalyst to BTC Price.
On 26th June 2018 SEC (U.S. Securities and Exchange Commission) Received Application For Bitcoin ETF License From CBOE.
Official Released File by SEC Link:- https://www.sec.gov/rules/sro/cboebzx/2018/34-83520.pdf
In Order To Succeed ETF as a Financial Instrument, it Needs Approval of SEC.
The Date 10th August is Going to Be Major Date For BITCOIN Price Direction, If ETF Gets Approved We Will See Massive Volume Coming in Market From The U.S Alone. Additionally Institutional Money Will Come Into the Market at the Same Time.
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Let's Pray for This Big News to Get Approved ✌
Happy New Week 💖
