Bitcoin ETF Proposals on Verge of Approval, Experts Predict $50K BTC by 2023

Bitcoin has returned! The most well-known cryptocurrency in the world has recently gained attention, and not only because the SEC turned down the Winklevoss Twins' application for an exchange-traded fund (ETF).

Proposals for a Bitcoin ETF are almost approved, and experts predict $50K in BTC by 2023.

After more than two years after the first Bitcoin futures contracts were introduced on the Chicago Mercantile Exchange (CME), it seems that the first indications of approval for a new Bitcoin-related fund are now being seen.

Institutional investors have long requested an exchange-traded fund (ETF) focused on cryptocurrency investments, but there hasn't been much movement in getting one authorized by US authorities until lately. But this week witnessed a significant change in that approach when SEC Commissioner Hester Peirce declared her intention to approve two new cryptocurrency-related products: an Ethereum ETF and a Bitcoin ETF.

Though the news is encouraging, there are still a lot of unresolved issues with these two new funds. How soon will they come, for example? Will they just provide exposure to cryptocurrencies like Ethereum or Bitcoin?