Possible Bitcoin ETF Raises Market Hopes as US SEC Opens Public Discussion

[Angkoolart10]

A Bitcoin-based ETF has been proposed, then refused on regulatory grounds for years. But there is another round of hope, as the US Securities and Exchange Commission is expected to announce on August 10 its decision regarding the recent Bitcoin ETF license application by CBOE BZX Exchange, Inc.

The launching of Bitcoin futures last December was seen as one of the factors leading to an easier acceptance for the launch of an ETF.

An ETF would also mean a direct purchase of Bitcoin assets by institutional money, giving more legitimacy to Bitcoin (BTC) and potentially boosting prices. In 2018, ETFs are seen as an opportunity for a series of innovative investment instruments, related to anything from bonds to AI companies and even individual countries, as tracked by the ETF.com website. But cryptocurrency ETFs are yet to appear.

The SEC website has opened a discussion section for the upcoming ETF launch. The attitudes to the newly coming investment vehicle are worth noticing. One commenter, Kyle McDougall, stated that an ETF would mitigate the risk of exchanges, which are more difficult to use. However, he believes the ETF should be open to anyone, not just high net worth individuals:

Read more: https://www.investing.com/news/cryptocurrency-news/possible-bitcoin-etf-raises-market-hopes-as-us-sec-opens-public-discussion-for-cboe-fund-license-1527145