What Is ETF?
In simple words an ETF (Exchange-Traded Fund) is a fund that is traded on a stock exchange.
Why ETF Is In The News?
It has been reported that the SEC (Securities and Exchange Commission) is considering the idea of creating a Bitcoin-ETF. Also John Hyland (The global head of exchange-traded products for Bitwise Asset Management) told in an interview to etf.com that he believes the SEC could soon approve a bitcoin ETF.
Obstacles On The Road
Actually crypto market is very volatile and risky. Matt Hougan (CEO of Inside ETFs) once twitted that "If you guessed Bitcoin, you're wrong."
Also SEC has raised concerns about liquidity, volatility and the risks of fraud and market manipulation by big whales or other different circumstances.
It should be noted that the SEC had rejected Winklevoss's ETF in March 2017 and two bitcoin ETF proposals were withdrawn in January 2018 at the regulator’s request.
So ETF Approval Date Is August 10 or 16?
As per #CoinGape it was suggested that the SEC would make their decision regarding the proposal by August 10, 2018 but a well known #Reddit user named #CryptopherWalken wrote that the date for the SEC decision can't be before August 16, 2018. Let's see.
What Will Be The Impact On BTC Price?
If SEC approves ETF then investing in cryptocurrencies will be more easy and safe and it will attract more investors. If it happens then bitcoin price can boom from current price to 5 to 8x till the end of this year.
Matt Hougan is very bullish about this and told to #Bloomberg that "The pathway to $1 trillion eventually is fairly certain."
We can hope that if SEC approves Bitcoin-ETF then it will attract more big investers and financial institutions and in result trillion of dollers will enter into the market and we can see a big surge in bitcoin prices. If it happens, bitcoin may cross $50,000 till December 2018. BitMEX Co-founder Arthur Hayes also predicts that -"Bitcoin will be priced around #$50,000 by the end of the year."
But time will tell.....we have to keep an eye on BTC price movements.
Image Source : Google
Be ready to grab this opportunity to make big profits.
What do you think...Bitcoin will cross $50,000 till year end?
Or whats your estimation about bitcoin prices?
Please share your opinion in the comment box.
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(Note : - This is not an investment advice. It's only for educational purposes. DYOR before any investment or consult to any financial adviser.)