The Bitcoin prices already in a flux due to the impending approval or rejection of various Bitcoin ETF. Last week Bitcoin nose-dived when the U.S. Securities and Exchange Commission (SEC) postponed its decision regarding VanEck/SolidX BTC ETF. For the unassumed, ETF i.e. Exchange-traded funds are securities that track the price of an asset and is listed on an exchange. Many consider ETF’s a safer, smarter way for institutional investors to get involved with cryptocurrency, rather than buying bitcoin on a crypto-asset exchange. ETF shall serve as a pivotal step for the mass adoption of cryptocurrencies as regulated investments.
Notably, the “revolutionary,” Bitcoin ETF stands at the opposite end of the spectrum from Bitcoin, in terms of what bitcoin is supposed to be. For one the former is not a medium of exchange. ETF is definitely not at all off the grid, it will rely on proof of ownership at the ETF level to be successful and will be completely trackable.
Is Bitcoin ETF worth all the trouble?
While some might agree with the notion, a lot of enthusiasts are against it. For one most of the investors who wanted to delve into crypto, would not be longing for an ETF, they might have figured a way already. Also, the crypto bulls holding onto their position in anticipation of an ETF will face a lot of selling pressure once it is released.
The riff between those who support Bitcoin ETF and those who don’t is surmounting by its delay. While which party takes the cake is a matter that will be settled after the release, all we can hope is that all goes well in the crypto world.
The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.” Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.