SEC wants to rethink the decision on the Bitcoin ETF
Bitcoin is about to mark a new all-time high to the US dollar. This is partly due to the fact that the US stock exchange supervisory authority SEC revises its refusal for the first Bitcoin ETF.
In the spring of 2017 speculation that the US stock market supervisor SEC would approve the first listed Bitcoin ETF had pushed the cyber currency to a new all-time high of more than $ 1,300. A positive decision would have made the crypto money available to a wider investor.
However, the investors were disappointed. On March 10, 2017, the SEC canceled the index fund “Winklevoss Bitcoin Trust ETF”. The issuers assessed the financial product as too prone to tamper due to the lack of regulation of the bitcoin trade. This had pushed the Bitcoin course temporarily sensitive to just over 1,000 US dollar.
The twins Tyler and Cameron Winklevoss had previously tried to obtain approval for their planned investment fund for over three years. But now they can get new hopes, as the Securities and Exchange Commission has decided to re-examine their March decision.
Experts see great potential for Bitcoin
If the fund were to receive the approval, this would significantly improve the bitcoin, which has been called for a long time as a hacker currency. In this case, FinTech analyst Spencer Bogart from the investment bank Needham & Co. sees a huge interest: “In the first week after the start of the ETF alone, it could reach some 300 million US dollars and the bitcoin rate would rise massively That is still conservatively appreciated. ”
Professor Philipp Sandner expressed the same opinion. “Bitcoin is slowly removing the grim image,” explained the expert at the Frankfurt School of Finance & Management. And further: “The approval of the ETF would have a signal effect and the confidence in the crypto currency would increase strongly.” That’s why he thinks it is possible that the Bitcoin price will still hit the mark of 2,000 US dollars in 2017.
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