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Everyone is waiting for the BTC rate to rise with the adoption of an ETF, but is it worth it?
The market is embracing an increasingly optimistic mood. Reinforces their possible approval by US regulators of the first Bitcoin ETFs. The Securities Commission managed to avoid accepting applications for 4 years, but after a conversation with VanEck representatives, officials noticeably softened their position.
ETFs are already available on exchanges in Canada and Brazil. And now they can appear on the American market. Gary Gensler, the head of the Commission, confirms that the agency is loyal to funds that are based not on the main product – bitcoin, but on bitcoin futures available from the Chicago Mercantile Exchange (CME).
The logic looks simple: ETFs make bitcoin accessible even to those who are far from technology. And this guarantees the inflow of capital to the crypto market. However, the same hopes were pinned on bitcoin futures issued by CME and CBOE in December 2017. The reality turned out to be different – it turned out to be more profitable for participants using derivatives to play down. And BTC, which only reached $20,000, has already dropped to $6,000 in 2018.
And what do you think? Write in the comments!
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