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Bitcoin could soar if the Winklevoss ETF is approved

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Report: Bitcoin ETF Could Amass $300 Million in Assets (If Approved)

Report: Bitcoin ETF Could Amass $300 Million in Assets (If Approved)*/

– A new investor note published today by analyst Needham & Company projects that a bitcoin exchange-traded fund (ETF) could attract as much as $300m in new assets in its first week alone.Writing about the potential impact of an ETF on the nascent market, analyst Spencer Bogart speculates that such an approval is likely to have a “profoundly positive” effect on the price of bitcoin, and that the $300m estimate is “conservative”.”The resulting effort to source the underlying bitcoin for the trust would likely drive the price of bitcoin up significantly,” Bogart writes.
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‘Winklevoss Bitcoin ETF Decision Is Expected by March 11, But Approval Likelihood Is Very Low,’ Say Analysts – CoinSpeaker

'Winklevoss Bitcoin ETF Decision Is Expected by March 11, But Approval Likelihood Is Very Low,' Say Analysts – CoinSpeaker*/

– The analysts underlined that there is no particular reason for the SEC disapproval, it is just a mixture of fear, uncertainty and doubt that can make the approval process difficult.The Securities and Exchange Commission hasn’t come to final conclusion whether to approve an exchange-traded fund proposed by Cameron and Tyler Winklevoss or not.The specific of bitcoin as a digital currency resulted in such a long-term consideration of the SEC – the regulators have been studying the proposal for more than three years.
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Winklevoss Bitcoin ETF Decision Seen by March 11, But Approval Likelihood ‘Very Low’

Winklevoss Bitcoin ETF Decision Seen by March 11, But Approval Likelihood 'Very Low'*/

– Needham & Company analyst Spencer Bogart said after years of work and investor anticipation the rule change necessary to pave the way for the Winklevoss Bitcoin ETF will see a final decision from the SEC by March 11Bogart thinks that the listing of a bitcoin ETF “would have a profoundly positive effect on the price of bitcoin not only because of the resulting asset inflow but also because of concurrent shifts in perception and regulatory risk.”That said, they think the probability of approval is “very low.””Taken together, we think the positive effect that a bitcoin ETF would have on the price of bitcoin is vastly underappreciated and that the probability of approval is drastically overestimated within the industry,” he said.
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Bitcoin could soar if the Winklevoss ETF is approved

Bitcoin could soar if the Winklevoss ETF is approved*/

– Investors in bitcoin have had two things to get particularly excited about of late: the prospect of the first bitcoin exchange-traded fund coming to market, and the digital currency‘s massive 2016 gain, when it more than doubled in value.But whether those gains hold may depend, in part, on whether the ETF is approved.Commodity-based ETFs—which a bitcoin ETF would likely be deemed as, given that both the IRS and the U.S. Commodity Futures Trading Commission classify bitcoin as a commodity rather than a currency—are typically structured as grantor trusts, and they have to hold the underlying commodity to cover a portion of their assets.
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