Bitcoin ETF Decision will NOT be on August 10

No doubt you have already heard about August 10 – the date the SEC will decide its ruling on a proposed bitcoin ETF.

[ On June 26 the U.S. Securities and Exchange Commission (SEC) received an application from CBOE Global Markets for a bitcoin exchange-traded fund (ETF) license. ]

:pushpin:Approval of a bitcoin ETF could be huge news for the crypto, that would move the BTC price significantly & help protect shareholders against operational risks associated with investing in the asset.

Earlier it was suggested that the SEC would make their decision regarding the proposal by August 10. However, it now seems that date may not be correct.

The date came out from the SEC notice stating that a decision will be no less than 45 days from the date of publication in the Federal Register. The SEC notice was published on June 26, but that’s not the same date that it was published in the Federal Register. The Federal Register publication only appeared on July 2, meaning the date for a decision is August 16. Even then, the date can be extended if required. A 45-day extension is possible. This means that a decision should be expected no later than September 24.

Image source:link to Google!

Bitcoin Future ?

Bitcoin has been moving between in range of 6000$- 7000$ since last few months. According to the Coinbase announcement to start accepting custody fund from Big Pocket investors, we have begun to seeing good trading volume increase on exchanges. This is a positive sign for all crypto market.

“Absolutely [I stand by $50,000 prediction by 2018]. I think something [bitcoin] that goes up to $20,000 in one year can >have a correction down to $6,000. I think we can find a bottom in the $3,000 to $5,000 range, but we are one positive >regulatory decision away, maybe an ETF approved by the SEC, to climbing through $20,000 and even to $50,000 by the >end of 2018″.