Will it? Won’t it? We are talking about the US Securities & Exchange Commission’s (SEC) pending approval of the first Bitcoin ETF. For four years the Winklevoss brothers (Facebook left outs) have been trying to get approval but…..well, we all know the SEC, don’t we? So, in a few weeks (actually March 11) the SEC will make a final decision on approving the ETF which would be extremely bullish for bitcoin. Wagers? Remember (just in case you haven’t heard) there is a new President and a lot of his advisors love bitcoin and he hates regulations. Just saying.
Bitcoin ETF (COIN). March 11 SEC approval or not. Winklevoss brothers. HUGE game changer if approved for financial community. Read up on it here. Great insight. (Bill Taylor/CEO)
“On March 11 the SEC will decide if it approves the Winklevoss’ Bitcoin ETF COIN. Approval would be an extremely bullish signal but depends on how the SEC assesses the risk-reducing measurements of the ETF. COIN also provokes the question, what Bitcoin exactly is – and makes the answer crucial.
The US exchange regulatory body, the SEC, will make the final decision, if the Bitcoin ETF COIN will be approved, on March 11. On this date it will be nearly four years since the Winklevoss twins submitted the first draft of their ETF to the SEC.
COIN, as the ETF is known, could be a perfect instrument to enable established and institutional investors to profit from the rise in the price of bitcoin. The reason they cannot at present is that institutional investors like wealth managers, pension funds or insurances are only allowed to invest in whitelisted classes of products. And bitcoin is not on this list.
Right now only a very limited number of financial products allow institutional investment in bitcoin. The most popular instrument is the XBT Tracker, traded on exchanges in Sweden and Germany. However, the Exchange Traded Note (ETN) does not back up the shares one-to-one with bitcoin. While the issuer, XBT Provider, certainly backs up his obligations with bitcoin, a determination of the relations are not part of the prospect. An ETF, in contrast, would offer investors more security and trust. Also as an established class of financial products, it has better chances reaching a wider audience as the other, somehow exotic, products……”
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