✍️ What is #ETF.....
ETF stands for "exchange traded fund" and describes a kind of investment fund where the price of assets like gold, stocks and oil can be tracked these assets can then be traded on exchanges, just like conventional stocks. What this means is that investors have the option of buy and selling their holdings in this exchange-treded funds to other investors via the stock exchange.
✍️What is Bitcoin ETF ?.......
Basically, a bitcoin ETF is one where the underlying assets is Bitcoin. This means that when you purchase bitcoin ETF, you are purchasing the cryptocurrency, always indirectly. This is because you are holding the Bitcoin ETF in your portfolio and this ETF tracks the real- time price of bitcoin. There for, the difference is that when you invest in bitcoin ETF, You have the luxury of trading bitcoin without the struggles of buying and storing it.
✍️What is effect on bitcoin?
The application of ETF by Wallstreet firms is a clare indicator that the big money is coming into the cryptocurrency market through the additional products of ETFs. The inpact of these products is expected to be astronomical in the sense that if the sec approves the ETFs, they would have indirectly given the green-light for mainstream investing in all other currencies. Hence the trillions in funds will eventually end up in the cryptocurrency markets.
✍️When...? 10 AUGUST or later...
The tentative date for the SEC's decision is Friday, August 10 - through, a 45- day extension is possible. This means that a decision should be expected no later than September 24. (Do Investment by considering it)
✍️High possibility ? Yes!
One major reason for last year's rejection was that Bitcoin markets were "unregulated". "based on the record before it, the commission believes that the significant market for bitcoin are unregulated," it explained. But latter that year, bitcoin future began trading as golman Sachs and JP Morgan started dipping their toes in cryptocurrencies.
Source...
Sumit Kapoor...
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