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Money Bitcoin-ETF: Bloomberg expert believes in early approval

14:50  12 may  2021
14:50  12 may  2021 Source:   t3n.de

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According to Eric Balchunas, Bloomberg's ETF experts, the US is the first Bitcoin ETF this year. About a lack of applications, the SEC may not complain.

Kommt bald ein Bitcoin ETF? © Chinnapong / Shutterstock will soon come a bitcoin ETF?

The optimists will be frozen: Eric Balchunas, Bloomberg's ETF Analyst number one, assuming that a bitcoin ETF in the USA will be experienced this year. He notes in an current article that the current BTC high flight is primarily at the institutional adoption. For the price rates of Bitcoin in the years 2017 and 2018, the "Standard Krypto products" as Grayscales Bitcoin Trust would have played a role. However, this is not ideal for small investors. This also knows the SEC and therefore you should now give a bitcoin ETF a chance.

Elon Musks away from "zero crypto currencies" to the Dogecoin Cheerleader

 Elon Musks away from Tesla invests massively in Bitcoin, but the company boss Elon Musk has declared Dogecoin years ago, to his favorite crypto currency. About the fun currency Musk always divided Memes, makes jokes about it - and thus also has a noticeable influence on their exchange rate. © Sky Cinema / Shutterstock.com Elon Musk and Dogecoin. Dogecoin was actually intended as a parody of the Bitcoin and the many other crypt feeds. An insider joke, which has meanwhile accepted gigantic dimensions.

Balchunas did not miss out to take a look at the neighboring country Canada and the local financial ecosystem. In February, regulators gave birth to the first Bitcoin ETF there. The analyst evaluates this as a "good sign" for the US to follow this example.

Meanwhile, four bitcoin-ETFs are also allowed in Canada. In the US, the SEC in turn has recently taken more than the to decide on the request of Vaneck. In view of this residue, Balchunas finds clear words: "Canada is ahead of the US in this matter about six months to one year. The longer you hesitate [the sec], the more they play effectively the king maker. The one [Bitcoin-ETF], which is first out, will get profits immediately. So I think that there is a risk to wait too long, and I think that you understand that. "

Tesla will no longer accept bitcoin, says Elon Musk

  Tesla will no longer accept bitcoin, says Elon Musk The initial decision made by Tesla in March to accept bitcoin caused an outcry from environmentalists.Bitcoin fell by more than 10% after the tweet, while Tesla shares also dipped.

Further Bitcoin ETF application has been received at SEC

Nevertheless, Balchunas speaks of a" change "this year:" We are more optimistic for admission when we were ever. "

Meanwhile, the SEC achieved a new application for a bitcoin ETF. The CBOE BZX Exchange has provided him. The form 19B-4 has been received at the SEC and explains the support of the Wise Origin Bitcoin ETF application.

Wise Origin is a fund associated with the investment giant fidelity. The application for the ETF reached the US Stock Exchange Supervisory Board SEC already in March. However, the authority needs the consent of a stock market partners such as Cboe or NYSE ARCA. This partner is the corresponding 19B-4 form . Only then begins the SEC with the 45-day exam phase. Other bitcoin ETF applications, such as Vaneck, Kryptoin and Wisdom Tree, have also been discussed through the CBOE BZX Exchange. Another potential ETF issuer, Valkyrie, works together with the NYSE ARCA.

Author of Article is Christian Stede.

Impending Regulation in China and the United States will send bitcoin course again on descent .
© Shutterstock Bitcoin. Just the Bitcoin had recovered somewhat from his crash of the past days, so it went downhill again. The debt was the threatened sharper regulation in China and the USA. After the rally of the past few months, a crash in the crypto currencies was probably only a matter of time. The - at least partially - from the announcement Teslas, bitcoin but not to be accepted as a means of payment , triggered descent cost the crypto market a few hundred billion dollars.

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