NYSE Talks Bitcoin ETF on CNBC
Thomas Farley, NYSE Group President, spoke with Melissa Caruso-Cabrera on CNBC earlier today. The topic? NYSE Talks Bitcoin ETF. Mr. Farley has confirmed on camera in front of a live camera and a hot microphone their application with the SEC for a Bitcoin ETF. More to the point, the discussion focused on actual Bitcoin and not Bitcoin futures. This turn of events could be very interesting in term of Bitcoin in 2018. Perhaps even more interesting is that we’re not talking about one Bitcoin ETF fund but TWO, according to Business Insider.
When the NYSE talks Bitcoin ETF the whole world sits up and pays attention. What’s particularly interesting is the proposed offering of Bitcoin itself – not just Bitcoin futures. Bitcoin futures is already old news via CBOE, CME and TD Ameritrade but the ability to trade actual Bitcoin on the largest financial exchange in the world is some powerful stuff. Let’s remember – we’re not talking just one Bitcoin ETF — But TWO of them.
When the NYSE Talks Bitcoin ETF at the end of 2017 we can only imagine what’s in store for Bitcoin (BTC) in 2018 The only hurdles we see is the SEC’s dim view of cryptocurrency overall for the simple reason that Bitcoin — and indeed any cryptocoin — is totally unregulated. Thanks to the very nature of blockchain technology there’s no way for any government to impose regulations that could ever be hope to be enforced on any meaningful level.
For those new to the investing world an ETF is an Exchange-Traded Fund. For elaboration let’s pass the microphone to Investopedia who provides a comprehensive explanation of what an ETF is. After reading up on that imagine how promising the prospect of a Bitcoin ETF (or two) can be sure Bitcoin is maturing in the mainstream. While the price is right now on on a dip (making it a potentially AMAZING buying opportunity) Bitcoin’s long-term future is looking brighter than ever.
