Bitcoin ETF ($BITO): What does it imply for Bitcoin and Cryptocurrency?

This video discusses the current Bitcoin ETF ($BITO) from proshares. I focus on what the ETF is and what it means for Bitcoin. I spotlight that the ETF shouldn’t be essentially significant for Bitcoin. Folks might already readily commerce Bitcoin and the ETF solely barely opens up the pool of potential merchants. The ETF primarily covers Bitcoin futures relatively than Bitcoin per se. I additionally word that it doesn’t inform us vital quantities about regulators’ strategy to Bitcoin. Bitcoin can nonetheless be banned or closely curtailed. Additional, elevated regulation shouldn’t be per se good for Bitcoin.

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#BITO #BTC #Bitcoin

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One Comment

  1. This government acceptance of Bitcoin will have many cascading effects. For sure a lot of libertarian-minded folks and institutions hoping to profit from Bitcoin will reject this move as the beginning of interventionism in the space. On the other hand, there are a lot of laypersons who may still be hanging on to past negative sentiments about Bitcoin and this move might change their opinions. In either case, both SEC and Federal Reserve have stated they have no plans to ban Bitcoin (though they didn't say anything about harsh regulation). If Bitcoin receives more cultural embrace, the "public good" aspects of it may see more mainstream acknowledgement.

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