On August 23, the Cryptoso Community can get a powerful stimulus to growth: sec will decide on ETF Bitcoin from Proshares.
SEC has appointed a final decision on the ETF Bitcoin application from Proshares. Applications on Proshares Bitcoin ETF and Proshares Short Bitcoin ETF were presented. The main component of the funds will be futures contracts for the most capitalized coin (Bitcoin).
A distinctive feature of the application is the perpetration of the inclusion in the listing of the NYSE ETF, compiled on the basis of derivatives from the main assets. It is noteworthy that Proshares has already filed a petition to consider the SEC, which was not approved due to the lack of actual market availability for the adoption of a new tool.
Now the market has been a revival, which many specialists are associated with anticipation of the publication of the decision. A positive outcome will be positively affected by the general state of the market, since ETF is inextricably linked with expectations about the arrival of institutional investors. In the case of a negative solution, it is worth expecting a fall in the value of the main cryptocurrency.
Earlier transferring solutions to ETF or refusals from the SEC has already reduced the coin rate. The accumulated experience from the cryptos community opens up prospects for repetition of the reaction. However, some skeptics also note a greater chance of cancellation of the decision with the next transfer to its unknown time.