Related: Kevin O’Leary Sees Ethereum as Top Crypto, Says Bitcoin Investors Should ‘Start to Worry’
Earlier this month, the SEC approved plans for public comments on bitcoin ETFs, which could pave the way for the funds to finally come to life. However, some market observers believe that if the SEC does not approve bitcoin ETFs in the coming months, the effort could be pushed off until 2019 and beyond.
“Notably, the availability of a Bitcoin ETF within the US would make simple, streamlined Bitcoin purchases available to institutional investors, less technically adept investors, and speed traders. The impact of speed traders, who typically execute extremely high volumes of trades, could potentially have a significant impact on the price of Bitcoin — as evidenced by the presence of speed traders in the European Bitcoin ETF market,” according to CryptoSlate.
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