Now what does the above Headline mean for the crypto currency universe.
In a nutshell, the application of Exchange Traded Funds by Wall street firms is a clear indicator that the big money is coming into the crypto markets through the additional products of ETFs. The impact of these products is expected to be astronomical in the sense that if the USA based SECURITIES AND EXCHANGE COMMISSION approves the ETFs, they would have indirectly given the green-light for mainstream investing in all other crypto currencies. Consequently, the trillions in funds will eventually end up in the crypto markets.
Friday, August 10th is the day the SEC will announce if they will approve the Bitcoin ETF from CBOE or not, so mark your calendars people because this is gonna be HUGE. Even some peculiar trivial positioning is on the cards by the EU post the nostalgic Football World cup that is in its final leg around this weekend.
stay tuned for more in this space and like always do share your views and opinion. cheers.
