The SEC has just rejected the ETF ( Exchange Traded Fund) application by the Winklevoss twins, but there are several other applications in the pipeline. 'what if' some of those are granted? What will happen to Bitcoin and its price?
There's been a lot of confusion and hysteria since this etf was rejected, people read the headline and panicked. Let's clear it for once and all, sec was right to reject this etf as it was not filed as per the rules.
The ETF we're waiting for is the one that CBOE will file, and that one I'm positive will get approved.
I'm not a financial wizard, but Bitcoins and ETF is a deadly combo for an saving investment tool, it's a unique way to diversify one's portfolio spread the risk. That also means added volumes of trade of people, more investment coming, higher the sentiments and as we'll know bitcoins is limited, it's prices are bound to shoot up.
Though there'll be regulatory hurdles, but that's a small price to pay as I would like to see the long term returns.