Bitwise Enters The Game
Bitwise CEO, Matt Hougan told CNBC “The market is professionalizing in a direction that the SEC would allow a Crytpo ETF onto the market.” This Chicago based firm is confirming what we already know and expect. If approved, Bitwise would add to their position in the new cryptocurrency ETF markets. In November of 2017 they opened a private investment fund for accredited investors willing to deposit a minimum of one-million dollars which can be found here at https://www.bitwiseinvestments.com. Also, the SEC is already reviewing an application submitted my a company branded as VanEck SolidX Bitcoin Shares. This filing was submitted last month. The SEC is very cautious and at times seems to not yet know how to choose a clear and concise direction on these matters. They need to hurry. America needs to choose a clear direction, rather than staying behind the other nations who are embracing the block-chain technologies. A sombering quote recently came from our favorite CFTC Chairman, Christopher Giancarlo who says that the United States may be as many as 4 year behind on the block chain technology. Well whose to blame for that I wonder.
How An ETF Works
Exchange-Traded Funds are an ideal go to fund for investors who have capital to invest and do not want to manage or take time to diversify their portfolios themselves. Also, an ETF can be placed on a market and traded as well. The beauty of an ETF is that the fund managers can take a lump sum of money and spread it out into multiple different coins or tokens which are offered in a particular ETF. An ETFs is a key component of Index Funds as well. (No they are not the same, but technically, are closely related.) As you may now see, the ETF is going to do wonders for the cryptocurrency world. People only invest in Index funds to profit from price increases, so what do you think they are expecting to happen!Prepare To Soar
The coins and tokens that may be listed in these Exchange-Traded Funds will come into high demand. It is thought that the volumes alone on exchanges, where trading will continue, will increase dramatically. This leaves me to wonder if there will in the short term, a slowdown of many alt-coins whose volumes shift into coins that will see huge ETF support. Altogether its not a bad idea if you are a trader or cryptocurrency investor yourself, to get these ETF coins. Some popular crypto exchanges Okex, Coinbase and Huobi are going to be offering index funds in the near future as well. Just imagine if those who handle alot of fiat need to buy bitcoin to purchase their portfolios. What do you think that would do to the price of bitcoin? We may see the majority of the major price movements as a result in the early parts of 2019 or sooner, or later...does it matter? We will moon!! Stay tuned as I am sure many more will come..These are my feelings and own opinions. I win and lose trades, just like you. Please be careful in the markets and as always... Do your own research and invest wisely!!
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