Traders seem to be already pricing in the US Securities and Exchange Commission’s (SEC) upcoming ruling on the Winklevoss bitcoin exchange-traded fund (ETF), according to most analysts polled by CoinDesk.
Should the fund – sought by Tyler and Cameron Winklevoss – receive approval, the creation of an easily accessible investment vehicle could trigger a massive influx of capital and robust price increases, market observers have stated. As a result, the SEC decision, which has a deadline of 11th March, has drawn significant attention from traders.
Several analysts spoke with CoinDesk about how an SEC decision to approve a bitcoin ETF could have a significant impact on the market for the digital currency.
“If the Winklevoss ETF, or any other bitcoin ETF for that matter, is approved by the SEC, bitcoin prices are almost certainly likely to jump in the following months and years,” said Petar Zivkovski, COO of leveraged bitcoin trading platform Whaleclub.
He pointed to the sharp gains that gold and silver prices enjoyed after ETFs backed by these commodities hit the market. “A bitcoin ETF could also open the door” to retirement accounts and pension funds, which represent a market worth trillions.
Arthur Hayes, co-founder
Read more ... source: CoinDesk
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