What is ETF ?
ETF means Exchange Traded Fund. If SEC (Security Exchange Commission) approved Bitcoin ETF then Bitcoin can goes to 65,000$ at the end of this year.
How is it possible ?? Read my full Vlog post
ETF stands for “Exchange Traded Fund” and describes a kind of investment fund where the price of assets like gold, stocks and oil can be tracked. These assets can then be traded on exchanges, just like conventional stocks. What this means is that investors have the option of buying and selling their holdings in this exchange-traded funds to other investors via the stock exchange.
What is Bitcoin ETF?
Basically, a Bitcoin ETF is one where the underlying asset is Bitcoin. This means that when you purchase Bitcoin ETF, you’re purchasing the cryptocurrency, albeit indirectly. This is because you’re holding the Bitcoin ETF in your portfolio and this ETF tracks the real-time price of Bitcoin. Therefore, the difference is that when you invest in Bitcoin ETF, you have the luxury of trading Bitcoins without the struggles of buying and storing it. Just clicking Buy Bitcoin on your account or just clicking Sell Bitcoin on your account you can Buy or Sell them more easily.
what is Effect on BTC ?
the application of ETFs by Wallstreet firms is a clear indicator that the big money is coming into the crypto markets through the additional products of ETFs. The impact of these products is expected to be astronomical in the sense that if the SEC approves the ETFs, they would have indirectly given the green-light for mainstream investing in all other cryptocurrencies. Hence the trillions in funds will eventually end up in the crypto markets.
When...? 10 August or Later ?
The tentative date for the SEC’s decision is Friday, August 10 — though, a 45-day extension is possible. This means that a decision should be expected no later than September 24. (Do Investment by considering it)
High Possibility ? Yes!
Two major reason for last year’s rejection was that Bitcoin markets were “unregulated.” “Based on the record before it, the Commission believes that the significant markets for bitcoin are unregulated,” it explained. But later that year, Bitcoin Futures began trading as big investment banks such as Goldman Sachs and JP Morgan started dipping their toes in cryptocurrencies. In this year CBOE (Chicago Board Options Exchange) filled the file for Bitcoin ETF and they said if any exchange hacked or if their users account hacked then they will help to recover their private key and fund as well. They clearly said They takes the responsiblyty for if exchange or users account hacked. So that's the Two major reason for approval Bitcoins ETF.
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Sajjad Kabir
@sajjadkabir1
