The SEC will have “no choice” but to approve the Bitcoin ETF and the decision will be known in a few days. What will this mean for the price of the asset?
A highly volatile asset, it has seen sharp rises and dizzying falls. Now, investors are awaiting the approval of an ETF to invest in this type of asset. Bitcoin is 15 years old, what can we expect now from this asset and will the price skyrocket with ETFs? We take a closer look at the outlook with Herminio Fernández, CEO of EurocoinPay.
Interview | Bitcoin, perspectives after 15 years.
We talked about it with Herminio Fernández, CEO of EurocoinPay.
In a few days, we could have a decision from the SEC on the approval of an exchange-traded fund, an ETF, of Bitcoin.
A countdown that is bringing all kinds of speculation. Some even point out that the SEC is backed into a corner to give the green light.
The expert believes that, in effect, the SEC will have no choice but to approve this fund, because all the specifications requested by the regulator have been submitted.
A “yes” to these ETFs would mark a before and after for the cryptocurrency. But “I think it already has a very important upward momentum, for all that Bitcoin represents”.
Physical Bitcoin
Now, if this approval is given, all investment funds and platforms that want to offer these ETFs will have to go to the market to buy physical Bitcoin. They must be backed not by listed securities, but by real Bitcoin.
If there are 20-30% of Bitcoin in circulation now, because most of them are in wallets, it means that those that are available to buy are scarce.
There may be significant buying pressure, which will push prices up. “It would turn Bitcoin into a very bullish market”.
Source: Capital Radio
Disclaimer: The information set out herein should not be taken as financial advice or investment recommendations. All investments and trading involve risk and it is the responsibility of each individual to do their due diligence before making any investment decision.
