Major Futures Exchange CBOE Files For Bitcoin ETF, Increasing Probability of Approval.
This time ETF filing addressed two major issues.
Issue# 1: Lack of overseas regulations and price manipulations.
But since then, the global cryptocurrency industry has drastically changed in almost every aspect. The Japanese government has remained at the forefront of global cryptocurrency regulation, leading the G20 to unify regulations for crypto exchanges and investors.
South Korea, who previously were reluctant towards regulating the cryptocurrency market because they feared local investors would recognize it as a move to legitimize the crypto exchange market, also finalized its plans to acknowledge crypto trading platforms as fully regulated financial institutions.
Issue# 2. How well the investors money is secured?
This time ETF filing, the official document of the CBOE bitcoin ETF filing explicitly stated that long with complete security, insurance will be provided to investors.
So now, both of the major reasons of ETF rejection last year are now addressed this time.
What do you think, would ETF happen this year?
As per my understanding, the BTC might easily cross $30K (my conservative view) by this year end, if at all, the ETF is approved. What do you think about the BTC price by this year end?
Let me know your comments below.
Here are my previous blogs:
https://steemit.com/bitcoin/@blk007/where-is-bitcoin-heading
https://steemit.com/cryptocurrency/@blk007/ripple-effect-future-of-xrp
https://steemit.com/electroneum/@blk007/today-s-big-news
Disclaimer:
This article should not be taken as, and is not intended to provide investment advice. Please do your well informed research before taking any investment decision.