Bitcoin ETF Frenzy Soon

Bitcoin trading frenzy? We at FintekNews have been writing for months that bitcoin is on an upward track that will ultimately result in much higher prices with one (just one) of the reasons being increased institutional (hedge funds, ETF’s, etc) demand. It’s close to happening with a couple ETF’s that have been waiting SEC approval expecting a decision next month. Hmmmmm, more dollars chasing short supply means? (Duh?) Super great article.  (Bill Taylor/CEO)

“If the Securities and Exchange Commission approves a bitcoin exchange-traded fund next month, it might set off a speculative rush into bitcoin.

An easily accessed ETF that tracks the value of bitcoin could cause money to flood into the fledgling bitcoin market, analysts say. Indeed, what some see as a chance for average investors to participate in one of the great financial innovations of recent years could set off a trading frenzy in an already wild market.

“My concern is that the launch of an ETF could lead to irrational exuberance if the price of bitcoin appreciates dramatically,” says Christopher Burniske, blockchain-products lead at money manager and research firm ARK Investment Management. ARK invests in Bitcoin Investment Trust, an ETF-like fund that already trades over the counter but currently is only available to wealthy investors.

Winklevosses ready

After a nearly four-year wait, the SEC faces a deadline of March 11 to decide on a rule change hat would allow the Winklevoss Bitcoin Trust ETF to trade on the Bats Global Market exchange.”

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