Deadline is getting closer! Will the SEC approve a Bitcoin ETF?
What is ETF?
In the simplest words, Exchange Traded Funds are funds that track indexes like the NASDAQ-100 Index etc. When you buy shares of an ETF, you are buying shares of a portfolio that tracks the yield and return of its native index. Bitcoin ETF opens the door to heaven.
The Winklevoss Bitcoin ETF is a proposed exchange-traded fund that will buy and hold Bitcoin to back the shares investors have purchased. If approved by the U.S. Securities and Exchange Commission, the Winklevoss Bitcoin ETF will provide easy way to buy Bitcoins for retail investors.
Bitcoin ETF approval could be a real boost for Bitcoin and especially for the BTC price. Adoption of the U.S Securities and Exchange Commission could be very helpful but on the other hand it comes with a regulation.
Is in it a something that Bitcoin was trying to avoid?
Bet SEC decision on OneHash!