Thursday, March 9, 2017

Bitcoin ETF decision expected tommorrow

Bloomberg:

Tyler and Cameron Winklevoss will know within days whether they’ve won approval to begin offering their bitcoin-based exchange traded fund, with the digital currency’s record rally hanging in the balance.

Officials from the U.S. Securities and Exchange Commission met with the twins on Feb. 14 to discuss their proposal for an ETF based on the digital currency, according to a short notice of the meeting published on Feb. 22. A decision is due by March 11. The 35-year-old twins want to trade the security on the Bats BZX Exchange Inc.

If it gets approved it is expected quite a bit of capital will pour into the ETF. If it does not get approved expect a big selloff. I am holding for the long term as I think the blockchain and bitcoin will continue to gain traction regardless of the ETF decision.


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