This week could be one of the most important ones in the history of crypto!
The SEC will decide whether it will approve or disapprove Van Eck’s application for a bitcoin ETF on Thursday.
“The Commission designates June 17, 2021, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change,”Van Eck filing, signed by Assistant Secretary J. Matthew DeLesDernier
An ETF is a type of security that tracks an index, sector, or other assets. People love ETFs as they are a cheap opportunity to invest in a wide range of companies. In addition, they are viewed as reliable as most of them give investors a return of 5%-12% a year. So, ETFs are socially established – especially in times where people have to pay negative interest rates at the bank.
So, introducing a bitcoin ETF legitimizes the crypto industry because it’s only launched for legit asset classes.
The launch of a US bitcoin ETF could catalyze this year’s bullrun significantly and drive mass adoption.
So, all eyes on bitcoin this week!
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