Bitcoins ETF Or Stock Struggles
One of the big things we have all been hoping for was to get bitcoin into the stock market cash via a ETF or some other means. However many are now backing out seeing no end in sight to get it passed the SEC. The most recent of these being ICE.N (Intercontinental Exchange Inc's.) also Cameron and Tyler Winklevoss twins more recent attempt as well.
While the SEC might approve it most banks, governments and Regulatory agency are hard to say.
I believe a ETF or any type of stock market push for bitcoin will end up failing simply because it can not be regulated. However there are plenty of places for every day people to start investing into the crypto currency which should continue its growth. It will be slower growth then a massive jump if a ETF was accepted but still bitcoins trend is upwards.
GBTC is a bitcoin ETN (exchange traded note). It trades on the NASDAQ OTC. It is fairly liquid with average daily dollar volume around $57 million.
Months ago, it sometimes lagged or overshot (it soared from $110 to $565 from April to May this year vs. bitcoin's price rise from about $1000 to nearly $3000), but now tracks the price of bitcoin much better.
Meanwhile, Canada is about to launch a bitcoin ETF: https://bitcoinist.com/first-bitcoin-etf-launch-canada/
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Awesome Struggle
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Even without ETFs, Wall Street money will find its way into crypto. We already see the banks starting to buy BTC which means other cryptos arent far behind. While the average Joe could well still be unaware of crypto, the advanced investors are starting to hear about it on the business shows. With the returns we have seen, they will want in.
I still feel we are in the very early stages of cryptocurrencies. The growth will be outstanding.
Thank you for the post.