CryptocurrenciesNews

Bitcoin reaches $ 6.000, after being known that it could become an ETF

Strong rise in Bitcoin, when it was announced that this cryptocurrency could be a public exchange fund or ETF, selling for $ 6.000 for a few moments.

Bitcoin is closer than ever to becoming an ETF or a stock exchange fund, in Spanish. This is possible thanks to the appearance of the first derivatives of this cryptocurrency, according to some industry experts. Brokers would be putting their eye on this cryptocurrency, seeing that they can receive significant commissions if it is implemented. There has been some speculation about regulation and admission by the SEC and the New York Stock Exchange for some time, but right now it seems like a fairly tangible reality, which has caused Bitcoin to skyrocket in value.

Chicago DRW Holding company founder Don Wilson said during the Futures Industry Association's annual conference in Chicago that it would be obvious that Bitcoin futures and options would end up leading Bitcoin down the path of ETFs. "Once a derivative is launched, a Bitcoin ETF is next," Wilson said during the conference. The only current limitation of Bitcoin when it comes to trading is that it cannot be done as an underlying asset, which is why some investors are reluctant to operate with this cryptocurrency, because their positions are not protected.

Creating an ETF based on BTC has not been easy. The SEC initially rejected a Bitcoin ETF when it was proposed by the brothers Tyler and Cameron Winklevoss in March, clarifying that it could not be included due to the necessary surveillance exchange agreements, because the 'significant Bitcoin markets are not there. regulated ', highlighted the US agency. Michael Mollet, Managing Director of Product Development at the Cboe Futures Exchange, says the arrival of a Bitcoin ETF "is a pretty reasonable assumption." He also adds that 'if there is a large demand, we will find out. Definitely, people will try it '

Through ETFs, retail investors, in addition to institutions, would have an easy and safe channel to trade BTC, if we compare it with exchange houses and digital wallets based on the blockchain. The Commodity Futures Trading Commission in the United States has given the go-ahead to LedgerX, but it has not been specified whether they have started offering traded options.

Parallel to all this information, Bitcoin has taken a huge leap, going from $ 5.600-5.660 in which it moved since yesterday, to reaching $ 6.000 for an instant. Right now it has stabilized between the 4.2-4.7% rise, hovering around the $ 5.940-5970 valuation. An ascent that has been in a matter of minutes.

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Robert Sole

Director of Contents and Writing of this same website, technician in renewable energy generation systems and low voltage electrical technician. I work in front of a PC, in my free time I am in front of a PC and when I leave the house I am glued to the screen of my smartphone. Every morning when I wake up I walk across the Stargate to make some coffee and start watching YouTube videos. I once saw a dragon ... or was it a Dragonite?

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