The largest futures exchange, CBOE is reported to have filed for a Bitcoin ETF with the Securities and Exchange Commission (SEC).

ETFs are Exchange Trader Funds that are marketable securities that track an index, a commodity, bonds or a basket of assets. In this case, the most likely index or basket of assets will include the big 5 cryptocurrencies of BTC, Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC) and Ethereum Classic (ETC)

WHEN IT IS HAPPENING?

date for the SEC’s decision is August 10 — though, a 45-day extension is possible.Means that a decision should be expected no later than September 24th.

CAUTION

Many analysts believe that a CBOE Bitcoin ETF could push the value of bitcoin to as high as $50,000.
but a non-approval can lead bitcoin to go a lot down as it has happened before in march 2017 (btc went from 1350 dollar to 1000 dollar after rejection)

RIGHT TIME TO INVEST?

for small traders, it definitely is. And they must sell around 40-60% of their investment(depending on their risk factor) before 10th august in-case it gets rejected.
Long-holders can also buy it as it's still a great buy at this price considering it will reach 22K dollar at end of this year!

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