Well the Summers are here and news for the next Bitcoin bull thrash is griping up. And it seems true because the US Securities and Exchange Commission (SEC) has received a Proposal to list Bitcoin Shares provided by VanEck & SolidX bitcoin trust.
To make it simple, VanEck is a US Based Investment Managemant Firm that has joined hands with a blockchain firm SolidX . Both the firms came up with proposal of issuing BITCOIN Shares in form of EXCHANGE TRADED FUND (ETF) which will be listed on Chicago Board Options Exchange (CBOE). This proposal has been forwarded by CBOE to SEC .
SEC upon receiving this Bitcoin ETF proposal asked the interested people to give comment on their website upon this Proposal
https://www.sec.gov/comments/sr-cboebzx-2018-040/cboebzx2018040.htm
The good news is that 97% people commented in Favor of this proposal. If SEC accepts the proposals and lists Bitcoin ETF on CBOE , it means that Trillions of Dollars will be poured into Crypto market which will boost not only bitcoin but prices of all other Alt coins as well. An estimate says that BITCOIN might reach 40,000 $ with this decision.
WHAT DOES ETF LISTING ON CBOE MEANS ?
It means that Bitcoin will be traded as commodity with much lower fees on CBOE exchange market. This will further Legitmize the BITCOIN.
WHY EARLIER SEC Rejected the Proposal of Bitcoin ETF ????
It is the responsibility of US SECURITY & EXCHANGE COMMISION to ensure the safety for Funds of clients . Earlier SEC turned down the Proposal of Winklevoss brothers of Gemini Exchange to list Bitcoin ETF primiarily because at that time there were no legislations regarding Bitcoin . But with the start of 2018 since lots of countries have made legislations about Bitcoin and upon that CBOE has given assurance to Insure all its clients who trade in Bitcoin shares on their Exchange, it is becoming more clear and evident that this time BITCOIN ETF might be listed on CBOE , thus bringing a new wave of Bitcoin surge