CBOE, the company that started Bitcoin futures, is seeking SEC approval to launch a Bitcoin ETF! The SEC has previously denied such attempts, but this time it is looking up! The SEC previously rejected proposals because the BTC market was completely unregulated, but since the SEC recently ruled that BTC is not a security that may mean that they have changed their minds. While no-one can predict what the SEC will do it is clear that a Bitcoin ETF has a greater chance than ever before.
OK, but why is a BTC ETF so Important?
While to crypto-enthusiasts the thought of buying an ETF of Bitcoin when you can easily buy the real thing is ludicrous, but to institutional investors, it means peace of mind. It's the ETF's job to keep the BTC safe and secure which takes a load off of the investor. The fact that investors can invest in Bitcoin the way that they already invest in everything else will certainly bring much more money into the Bitcoin markets. This will, of course, drive up the price like crazy!
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