Bitcoin ETF in 2017? A Look at Potential Impact and Probability
After years of work and investor anticipation the rule change necessary to pave the way for the Winklevoss Bitcoin ETF will see a final decision from the SEC by March 11. Overall, we think that the listing of a bitcoin ETF would have a profoundly positive effect on the price of bitcoin not only because of the resulting asset inflow but also because of concurrent shifts in perception and regulatory risk. Overall, however, we think the probability of approval is very low. Taken together, we think the positive effect that a bitcoin ETF would have on the price of bitcoin is vastly underappreciated and that the probability of approval is drastically overestimated within the industry.
SolidX Bitcoin Trust, filed with SEC, to trade on the NYSE
New York-based Blockchain service company, SolidX Partners Inc., recently filed a Registration Statement with the Securities and Exchange Commission (SEC) to list their new Bitcoin Trust on the New York Stock Exchange (NYSE).
Winklevoss Bitcoin Trust dumped NASDAQ for the largest market operator for exchange-traded funds, BATS
On Wednesday the Winklevoss twins filed a [sixth amendment](https://www.sec.gov/Archives/edgar/data/1579346/000119312516636535/d68862ds1a.htm) to their Securities and Exchange Commission (SEC) registration for the Winklevoss Bitcoin Trust. The amendment includes two major changes, the price and their chosen exchange.
GBTC now trading 60% higher than the underlying asset, bitcoin
The Bitcoin Investment Trust (BIT) enables investors to gain exposure to the price movement of bitcoin through a traditional investment vehicle, without the challenges of buying, storing, and safekeeping bitcoins. GBTC is the publicly quoted symbol for shares of the BIT, “an open-ended trust that is invested exclusively in bitcoin,” and sponsored by Grayscale Investments. The Trust was formed late in 2013, and qualified for public trading on the OTCQX market early in 2015.
How Bitcoin ETFs are Opening Markets
Bitcoin-backed Exchange Traded Funds are on the rise internationally. While US residents await approval of the first SEC approved fund, other jurisdictions are moving forward.
CoinFloor Plans First European ETF, Adds USD, Euro, and Polish Zloty and Proves Solvency
European Bitcoin competition heats up, as Coinfloor moves into mainland Europe and plans to make Europe’s first regulated and listed Bitcoin investment product.
