BlackRock looking at launching a Bitcoin ETF!
Despite the company’s previous skepticism towards the cryptocurrency field, BlackRock Inc. is looking at ways to take advantage of the “fast growing cryptocurrency market”, by launching an ETF.
What's an ETF ?
An ETF, or Exchange-Traded Fund, is a marketable Security that tracks an Index, a Commodity, Bonds, or a basket of assets like an Index Fund.
A Bitcoin ETF will track The Bitcoin Benchmarking Index and will Replicate it's IntraDay Performances, which allows people with a brokerage account to invest in Cryptocurrency without having to worry about the challenges of buying, selling, storing & safekeeping it.
Previously we had a similar situation when Bitcoin Future Contracts i.e. Chicago Board Options Exchange (CBOE) were Implemented on 10th Dec 2017 and due to that big news Bitcoin prices spiraled right up to $20,000 per Bitcoin.
If this BITCOIN ETF gets approved, then we will be having a similar kind of situation on 10th August 2018 and this is going to be a catalyst to BTC Price.
On 26th June 2018 SEC (U.S. Securities and Exchange Commission) received the application for Bitcoin ETF License From CBOE, filed by BlackRock Inc.
Official Released File by SEC Link:- https://www.sec.gov/rules/sro/cboebzx/2018/34-83520.pdf
In Order To Succeed ETF as a Financial Instrument, it Needs Approval of SEC.
10th August 2018 is going to be an instrumental date in determining the BITCOIN price Direction, if the ETF gets approved we will see massive volume coming into the market From The U.S Alone. Additionally, Institutional Money will pour into the Market at the same time.
As @cryptomanran puts it: "When the World’s biggest ETF company is looking at Crypto and the SEC has no real reason to block the next ETF, it could get a little exciting".....
What's an ETF ?
An ETF, or Exchange-Traded Fund, is a marketable Security that tracks an Index, a Commodity, Bonds, or a basket of assets like an Index Fund.
A Bitcoin ETF will track The Bitcoin Benchmarking Index and will Replicate it's IntraDay Performances, which allows people with a brokerage account to invest in Cryptocurrency without having to worry about the challenges of buying, selling, storing & safekeeping it.
Previously we had a similar situation when Bitcoin Future Contracts i.e. Chicago Board Options Exchange (CBOE) were Implemented on 10th Dec 2017 and due to that big news Bitcoin prices spiraled right up to $20,000 per Bitcoin.
If this BITCOIN ETF gets approved, then we will be having a similar kind of situation on 10th August 2018 and this is going to be a catalyst to BTC Price.
On 26th June 2018 SEC (U.S. Securities and Exchange Commission) received the application for Bitcoin ETF License From CBOE, filed by BlackRock Inc.
Official Released File by SEC Link:- https://www.sec.gov/rules/sro/cboebzx/2018/34-83520.pdf
In Order To Succeed ETF as a Financial Instrument, it Needs Approval of SEC.
10th August 2018 is going to be an instrumental date in determining the BITCOIN price Direction, if the ETF gets approved we will see massive volume coming into the market From The U.S Alone. Additionally, Institutional Money will pour into the Market at the same time.
As @cryptomanran puts it: "When the World’s biggest ETF company is looking at Crypto and the SEC has no real reason to block the next ETF, it could get a little exciting".....