A recent letter from VanEck to the SEC addressed some issues, including the use of futures and market liquidity. Bitcoin futures debuted on the Chicago Board Options Exchange (CBOE) in December with CME Group following suit just a few days later.
“When the SEC approves the first Bitcoin ETF, the inevitable bull-run will follow and thereafter, huge price swings caused by the entry of ‘whales’ with hundreds of millions of dollars to invest. The volatility will happen naturally because of price manipulation. This could go on for years,” according to CoinCentral.
For more information on the cryptocurrency market, visit the Bitcoin category.