Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Cryptos Surge After Launch Of First Bitcoin ETF

Courtesy of ZeroHedge View original post here.

After years of rejection, the SEC is allowing a pair of firms to launch the first bitcoin ETF, WSJ reports. Two firms are preparing to market a bitcoin ETF, but with a critical stipulation: The product will only be eligible for purchase by brokers, banks, hedge funds and other "qualified institutional buyers." 

image courtesy of CoinTelegraph

 

Shares of the Van Eck Solid X Bitcoin ETF will be sold under the SEC's Rule 144A, which is traditionally used to issue junk debt to "qualified investors" allowing them to make a market.

The only bitcoin-focused asset that has existed to date is the Grayscale Bitcoin Investment Trust, which was notorious for trading at a massive premium to BTC during the 2017 rally, only to come crashing back to earth s prices moderated early the following year.

Source: Bloomberg

Firms have been trying without much success to get regulatory approval for funds to bring bitcoin to a broader universe of investors.

Cryptos are rallying on the news of the much-anticipated ETF offerings…

Source: Bloomberg

Many BTC market analysts believe retirees would be more willing to buy bitcoin if they could gain exposure through a regulated ETF that would allow them to sell crypto to retail investors.


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!