Related: Bitcoin Market Cap Could Triple, Says VanEck Analyst
Broadly speaking, market observers expect a bitcoin ETF to be immediately successful with crypto market participants forecasting a potentially significant price surge for bitcoin if such a fund is approved. Bitcoin, the largest digital currency by market capitalization, recently regained some momentum on news that the SEC opened a public comment period on CBOE’s efforts to launch a bitcoin fund on its exchange.
“I would expect a positive outcome in September – or if it gets strung out a little further it is simply a few ‘dotted i’s and crossed t’s’ are being finalized on larger regulatory language in the crypto space. To be clear, most of the regulation will be first focused on ICO’s and the issues those pose for retail investors at the moment. US residents are sending money to all sorts of exotic locations to invest in unregulated instruments with absolutely zero recourse for losing every cent they’ve put at risk. ICO regulation will begin to solve those issues and keep client assets ‘onshore,’” a source at the SEC told ICO Journal.
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