The first step towards the “Bitcoin ETF dream”

by , 29 August 2018
The first step towards the “Bitcoin ETF dream”
Last week, I revealed the Bitcoin ETF “dream” unfortunately hit a roadblock.

And it was all thanks to the Securities and Exchange Commission (SEC) for delaying its decision on whether to approve a Bitcoin ETF.
This prompted a “mini-crash” in the bitcoin price (and cryptos in general), which fell around 12% overnight.

But once the markets digested this negative news, something else big happened in the crypto markets, which saw Bitcoin jump over $300 dollars in a matter of hours.

In fact, this development could be the first step towards the long-awaited “Bitcoin ETF dream”.

Let me explain…

In 2015, a bitcoin exchange-traded note (ETN) was launched and started trading on the Nasdaq Stockholm stock exchange in Sweden called Bitcoin Tracker One.

ETNs are different to ETFS.  ETFs hold baskets of shares or other assets that track the performance of a benchmark index or asset. Whereas, an ETN tracks the performance of a benchmark index or asset without holding the actual asset.

So the Bitcoin Tracker One tracks the price of Bitcoin.

Now in the past, investors could only buy this ETN using Euros or the Swedish krona.

Although this was a huge step for bitcoin, the market for investment was quite limited.

That’s until now.

You see, from 15 August, US investors are now allowed to buy this ETN, using dollars.
CEO of CoinShares Holdings (the company that developed the ETN), Ryan Radloff, told

Bloomberg:

“Everyone that’s investing in dollars can now get exposure to these products, whereas before, they were only available in euros or Swedish krona. Given the current climate on the regulatory front in the US, this is a big win for Bitcoin.”

And what’s even more interesting is, senior ETF Analyst for Bloomberg said, “Sweden’s Bitcoin exchange-traded fund (ETN) is bigger than around 80 percent of US exchange-traded funds (ETFs)”. It already has $700 million in assets, so it’s highly liquid and popular and US investors haven’t even bought it yet.
 
*************************************


  • Unlock your book “Little Book of Big Income” – worth R250
     
  • Start your FREE, no obligation trial to Joshua Benton’s Real Wealth Investment Research Advisory - worth R1,270 a year
     
  • Pick up your FREE investment research to help you profit even if there is an economic melt down – worth over R995
Check out the immense potential in these income secrets.

See how you can turn R10,000 into R730,463

And even if the economy and markets implode, we have a Fail-safe Plan for your portfolio whatever the scenario.  
 
Don’t let this these wealth secrets slip through your fingers.
 
Especially when I have put everything you need on a plate for you to take full advantage.
 
With your urgent Little Book of Big Income and 30-day trial to Real Wealth – you will be PRIMED to profit from these markets and create your own potential fortune.
 
Don't hang around – every day that goes by, you are leaving huge potential profits on the table.
 
Get in!

Collect your “Filthy Rich Secrets Package' now –


*************************************

So, why is this a huge win for Bitcoin?

Well, there are many positives this new development can have on crypto markets – especially Bitcoin.

Firstly, a substantial upsurge of interest in the product is expected to take place as US investors jostle to buy this ETN.

Secondly, as interest grows and more US investors get involved, this could see an inflow of cash from US institutional investors.

And thirdly, the introduction of a Bitcoin ETN in the US could be seen as an opening for the much sought after Bitcoin exchange-traded fund (ETF).

If all goes well, this latest development could create a compelling case for US regulators to approve a crypto ETF.

All these factors mean, more investors piling into Bitcoin, which hopefully is the catalyst for a price surge.



The first step towards the “Bitcoin ETF dream”
Rate this article    
Note: 4.06 of 9 votes

Have a trading or investing question? Click Here


Related articles



Related articles


Watch And Learn




Trending Topics