Categories: Bitcoin Business

Will We Finally See A Bitcoin ETF?

Click here to view original web page at

Bitcoin is back on the table. After rejecting the filing for an ETF on this cryptocurrency by Winklevoss Bitcoin Trust (Pending:COIN), the SEC is reviewing its decision once again. The proposal actually involved listing the ETF on the Bats BZX exchange, one of the largest U.S. equities market operator (read: No Bitcoin ETF Says SEC: What's Next?).

Now that Bats' petition to the SEC to reconsider the decision, has been accepted by the authority, a new-found optimism has been noticed in the space. Apart from this fact, there was another tailwind that recently made bitcoin a hot investment. As per an article published on CNBC, "Japan legalized the cryptocurrency as a payment method recently and this has led to a greater amount of bitcoin being bought with yen."

The Russian government is also expected to make cryptocurrencies legal financial instruments in 2018, as per the source. Minneapolis Fed President Neel Kashkari pointed to the strength of the blockchain technology supporting bitcoin lately.

Overall, the currency has been firing on all cylinders since the beginning of 2017. Most recently, the currency surpassed the mark of $1,700. Its value beat the $900 mark in late December for the first time since February 2014. In mid-2015, the currency was at around $200 (read: Explaining Bitcoin and Crypto Currency).

What is Bitcoin?

Bitcoins are 'mined' by using a greater amount of computer processing power. However, since there is a fixed amount of bitcoins, it becomes hard to 'mine' for the coins when the limit is reached. The best part of this system is that it is beyond the reach of central banks.

What Lies Ahead?

The tussle between the U.S. Securities Exchange Commission and Winklevoss over the launch has been going on for about three years. In fact, the issuer has restructured the proposal for the Bitcoin ETF multiple times.

The currency is in the limelight probably because of the fact that "bitcoin isn't regulated by any government and has been used by consumers worldwide to shelter assets from inflation or political upheavals in their home countries." As per an article published on CNBC, Bitcoin is emerging as a safe haven asset like gold.

With the SPDR Gold Trust ETF (NYSEARCA:GLD) coming under pressure due to rising rate prospects in the U.S. and a likely higher greenback, one can possibly find refuge in seemingly safe or alternative assets like bitcoin.

The operating backdrop may be strengthening for bitcoin, but the SEC is seemingly looking for more proof of the safety in this trade. Plus, after the refusal in March, chances of a SEC approval in the near term is less likely, unless and until further changes are probably done in the proposed fund.

As of now, investors probably have to be happy with traditional safe-haven assets and gold and silver bullion ETFs like GLD and the iShares Silver Trust ETF (NYSEARCA:SLV).

Link to the original post on


Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Published by

Recent Posts

Bitcoin May Be Laying the Groundwork for a Trend Reversal

Following Bitcoin’s recent plunge into the mid-$9,000 region, the cryptocurrency has been able to post a strong and sustainable bounce… Read More

5 hours ago

The blockchain/crypto week in quotes

“People who are watching the daily price of Bitcoin are really missing the whole point…The whole idea of Bitcoin is… Read More

5 hours ago

Brewing giant gives blockchain to African farmers

AB InBev Africa and BanQu have roped in blockchain technology to uplift smallholder farmers in the global brewing giant’s supply… Read More

5 hours ago

Self-Proclaimed Satoshi Nakamoto’s Bitcoin ‘Reveal’ Is an Epic Fail

The "big reveal" by the latest self-proclaimed Satoshi Nakamoto was an epic failure that overpromised and underdelivered. | Source: Shutterstock… Read More

5 hours ago

Litecoin May Soon Surge Despite Selling Pressure and Recent Dusting Attack

Litecoin has been wrapped in negative sentiment as of late, which has primarily been rooted it its lackluster price action… Read More

5 hours ago

The best ways to buy furniture online for Bitcoins

Overview Buying furniture for cryptocurrency For most of its existence, the Bitcoin community (BTC) believed that cryptocurrency would be a… Read More

11 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More