Categories: FeaturedViral

Top 3 Bitcoin ETFs Awaiting SEC Approval

The current bitcoin price is allegedly dominated by speculation regarding the ETF decision. Although no one knows for sure if the SEC will approve this investment vehicle, quite a few companies are in the running to enter this market. Below is a list of all of the bitcoin ETFs which may see the light of day.

3. Grayscale Investments

The latest entrant in the bitcoin ETF scene is Grayscale Investments, this company filed for SEC approval on January 20 this year. If the application is approved, the Bitcoin Investment Trust will launch on the New York Stock Exchange in the coming months. As part of this ETF, the company plans to launch with an initial US$500m public offering, which is quite a substantial amount.

Just because Grayscale Investments are the latest to file for ETF approval, that doesn’t necessarily mean the SEC will look favorably upon this offering. Although bitcoin has been gaining a lot of momentum as of late, the SEC may still decide not to approve these filings. Then again, Grayscale Investments is quite optimistic about their submission, albeit the final decision may be months, if not years, away.

2. SolidX Bitcoin Trust

The New York Stock Exchange will be a prime target for any company looking to launch a bitcoin ETF moving forward. SolidX Partners sent in their application in July of 2016, with the hopes of getting listed on the NYSE. Exposing bitcoin to mainstream traders and investors may help the cryptocurrency in gaining more traction. Moreover, it would send the market cap towards the US$100bn mark rather quickly.

The Solid X Bitcoin Trust will be a passively managed exchange-traded fund under the XBTC ticker. Shareholders will be exposed to the daily changes in the US Dollar price of bitcoin. Right now, that value evolved in a positive manner for people who managed to buy in at a cheaper price. A bitcoin ETF could have the same goal, without forcing investors to go through centralized exchanges.

1. Winklevoss Bitcoin ETF

Most of the attention has been on the Winklevoss Bitcoin ETF as of late. Although Tyler and Cameron Winklevoss filed for SEC approval a while ago, they were rejected multiple times in the process. All things considered, the brothers spent over three years on this project and they have no intention of backing down now.

The Winklevoss Bitcoin Trust ETF aims to list 1 million shares at US$65 each under the COIN ticket. Unfortunately the SEC has denied the ETF on March 13. The SEC claimed that Bitcoin markets weren’t regulated enough, thus deemed inappropriate as an ETF.

If you liked this article, follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin, cryptocurrency, and technology news.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Recent Posts

The Number of Bitcoin ATMs in Australia Doubled in the Past Six Months

Australia is quickly becoming an integral part of the cryptocurrency world. Thanks to solid regulatory developments and a growing Bitcoin…

46 mins ago

Embezzlement, Burglary, and Insider Trading Allegations Send Skycoin Crashing Down

Of all cryptocurrency projects, Skycoin is perhaps the one that the community is most opinionated on and confused by. Especially…

3 hours ago

What Is a Decentralized Autonomous Organization?

A key topic of discussion within the cryptocurrency space is the ultimate implications of cryptocurrency and the underlying blockchain technology.…

4 hours ago Now Quickest and Easiest Way to Buy Cryptocurrency

Frustrated with the strenuous process and lengthy waiting times associated with obtaining cryptocurrencies, the team behind CreditCoin had an epiphany.…

4 hours ago

Bitcoin Price Watch: Currency Still at $6,700

Bitcoin is not changing. This is both a negative and a positive sign. $6,700 is nothing to be particularly pleased…

5 hours ago

Banks Continue Expressing Support for Blockchains

Long-term investment in blockchain technology is an opportunity for the banking industry to reduce costs and become more efficient. This…

5 hours ago