Bitcoin ETF Might Be Possible

madarch (28)in #bitcoin • 6 years ago

Less than 24 hours ago, the owners of the New York Stock Exchange – Intercontinental Exchange (ICE) – announced that they would be partnering with Microsoft, BCG, Starbucks and other firms, to launch a market and ecosystem to list physically settled Bitcoin futures contracts and for a new company to push Bitcoin and other digital assets towards becoming mainstream financial asset. This new company will be known as Bakkt.

According to the CNBC news, it is the biggest announcment for Bitcoin. They explained it like that;

"This is huge news. I think the market is completely underappreciated. So let us talk about why this is the biggest news of the year for Bitcoin.

It paves the way for a Bitcoin ETF. Last week I stood here and said you know what, I don’t think the Bitcoin ETF will get approved. And guess what? The Winkelvoss ETF got rejected. Why?

Because there was not a US regulated exchange and there wasn’t US regulated custody."

My conclusion is that the crypto-market is completely missing this. Perhaps the market in general is missing this…this is very, very big news.

Thank You.