Hope this helps.....
Let's dive straight into the HOTT topic by asking ourselves What is ETF? Exchange Trade Funds. It's where investment funds are traded on Stock Exchanges. Now, question rises why is ETF so significant for BTC and the Crypto Space World Wide?
Let's re-cap, in 2017 Crypto Market reached 800 Billion Dollars!! This shattered a all time High Record of $19,500. Now, In order to see BTC at $65,000 the total market cap needs to be around 3 Trillion Dollars. Can this be possible?
Just imagine, If Stock Exchanges are involved? Investor database are already in place, and at a click of a button all investments can flood into the CryptoSpace. Just imagine all that water from Niagara Falls just flooding into the streams. Countless Possibilities Right?.. So what's the delay?
Well there are two main Concerns why ETF is not approved and both are very important factors:
1st - Lack of Global Rules and Regulations for Crypto and Crypto Exchanges
FYI: South Korea and Japan have max interest in the crypto space and have already implemented regulations for crypto and crypto exchanges.
2nd - Security and Exchange Commission SEC showing major concerns for Investors
To protect Investor Investments incase of any issues experienced such as private key issues, or a system get's hacked. In response to SEC, CBOE has stated it has secured insurance for investors which can help towards ETF Approval.
Now you're wondering who's CBOE? CBOE was Founded in 1973 as the Chicago Board Options Exchange, it is the world's largest options market with contracts focusing on individual equities, indexes, and interest rates. In 2010, the company converted to a publicly traded corporation and rebranded as CBOE Global Markets, Inc. Now CBOE has given assurance on SEC concerns.
Now, would the SEC approve CBOE? Do you think this can happen? Could BTC rise to 65K? Share your thoughts...
Sincerely,
JustCoinITWorldWide