“Eventually, do I think someone will satisfy the standards that we’ve laid out there? I hope so, yes, and I think so. Getting the stamp of approval from the deepest and most liquid capital markets in the world is hard, and it should be. Once we make it available to everyday mom and pop investors, we are taking risks that Americans can get hurt.” – SEC Commissioner Robert J. Jackson Jr.
Bitcoin ETF’s have been trying to get approved by the Securities and Exchange Commission. Previous concerns about the ETF’s have been addressed and changes have been made. There are strict rules and regulations from this organization and the Bitcoin ETF’s need to be designed to follow them and comply with these rules.
Bitcoin and Gold: There has been some comparison between bitcoin and gold. The value of gold is the entire market is in the trillions while the bitcoin market is in the billions. Gold is still valued by many countries all over the world and is used to back currency. Bitcoin is still not accepted by all nations but there is still plenty of room to grow and for the value to increase.
Many experts in finance think that the value of bitcoin will skyrocket as gold did. Once bitcoin is approved and regulated many people feel their value would increase as more people begin to use bitcoin. Bitcoin has seen a big increase in its value. Bitcoin started off 2017 at a price of $1,000. By the end of the year, the price went up to $19,000. Experts say that bitcoin is going to join gold as a fair currency. When gold was regulated and introduced to the banking world the price increased 300 percent. The same is thought to happen with bitcoin.
With the ETF backing bitcoin and bitcoin being held to strict regulations and standards, this will help people have more confidence in their investment. People are not going to invest their money in something that they do not know or understand. They are also not going to invest in something that is not regulated. People want to know that their money is protected and holding bitcoin to high standards is a great way to increase their regulations.
Bitcoin ETF’s is looking to change the future of bitcoin and the cryptocurrency market but in a good way. In the past, the ETF market for gold has seen drastic increases and the same is expected for bitcoin. If private investors are allowed to put money into this and the ETF’s are approved by the SEC than that would be a very bullish sign for the cryptocurrency market.
The SEC has not yet accepted bitcoin in part of the market but that is all set to change. The Bitcoin ETF has taken measures to improve their security and their use and approval are looking good for them. Once investors know that it is safe and secure to invest in bitcoin there will be a huge market for them. People are looking for new things in the future to invest in. As soon as bitcoin is declared safe by a governing body, there will be plenty of investors to increase its value.
The author of this article does not own any cryptocurrency.