Investment Blogger Explains Why He Won’t Buy Into A Bitcoin ETF Any Time Soon

Matt Thalman, a blogger for ino.com, a market trader website, does not intend to invest in bitcoin if a bitcoin ETF is approved in the near future, according to a recent blog post. He views bitcoin as still too new to invest in.

The Securities and Exchange Commission is soon expected to decide of the Winklevoss ETF, the first bitcoin ETF to file for approval in 2013. Since then, SolidX and Grayscale Investments have applied for bitcoin ETFs.

ETF Could Boost Bitcoin

Thalman acknowledges that experts believe the bitcoin ecosystem could draw as much as $300 million in its first week following approval of a bitcoin ETF, which would likely drive the bitcoin price higher. But he is concerned about the secrecy surrounding bitcoin.

Thalman also acknowledges many people are encouraged by the fact that only the market, not a government or individual, controls the value of bitcoins.

However, Thalman, like others, points out that the same feature applies to gold.

The key difference between bitcoin and gold is that bitcoin is digital while gold is

Read more ... source: CryptoCoinsNews

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