Bitcoin ETFs have been talked about since at least 2017 and it sometimes feels like we’re never going to get one. However, we must not forget that the first BTC exchange-traded fund will open the floodgates to new investments like never before.
The U.S. Securities and Exchange Commission (SEC) has postponed and rejected many Bitcoin ETF applications, so far. Just this month, the regulatory body postponed the decision for three BTC-related ETFs.
The impact that gold ETFs had on the price of that precious metal was significant. Gold ETFs fundamentally transformed the market. In 2010, it was recorded that 2,062.6 tonnes of gold were in vaults to physically back these ETFs.
One can easily imagine the potential Bitcoin ETFs would bring, given that Bitcoin is just a tiny fraction of gold’s market capitalization. Read More at BeInCrypto...