https://s33.postimg.cc/6q12s2gv3/shutterstock_43598320.jpg

# Bitcoin is likely on the verge of getting an ETF or ETP trading in the very near future.

Bitcoin began rallying several weeks back on rumors that the latest ETF proposal by VanEck and the CBOE might have the "right stuff" for the SEC.

Numerous ETFs have been proposed over the last 8 years, but none of them have been approved by the SEC.

However, by responding and adapting to what the SEC has said are concern's of theirs, the VanEck proposal seems to answer just about all of those concerns, which is what has people excited about this proposal.

https://youtu.be/ElzIPn1pXWE

# The odds of approval just got a little bit worse.

A few days back, as bitcoin was still enjoying it's nice 40% rally off the lows, news broke that the SEC rejected the Winklevoss ETF application.

As you might have guessed, the news put a damper on the market and likely contributed to the recent pullback off those highs down to our current level of $7,500.

Most seemed to miss that the Winklevoss ETF application was very different than the VanEck application and was not expected to pass anyways.

Irregardless, many see the Winklevoss rejection as a good indication that the VanEck application likely has less of a chance of being approved than originally thought.

Probably rightly so.

In my opinion, the VanEck ETF proposal likely gets rejected as well, though I think we do see a bitcoin ETF approved within the next 6 months.

Which means, even if this one gets rejected as well, one is likely coming in the near future.

# Given all of that, what might an ETF approval mean to the price of bitcoin?

Well, considering that bitcoin is often compared to gold, lets take a look at what happened to the price of gold when ETFs were introduced on it:

https://s33.postimg.cc/esz93fjgv/COMM-the-first-gold-etf-boosted-metal-prices-can-the-same-happen.png

The price of gold was basically flat for years until ETFs were introduced in 2003/2004.

Over the next few years, the price went up 5X.

I am not saying that bitcoin will behave exactly the same way, but given the fact that many people cannot or do not feel safe investing in bitcoin currently, an ETF would open the doors to a lot more money.

https://s33.postimg.cc/eirqk5hq7/Bitcoin-_ETF.png

A similar reaction to that seen in gold would take prices up near $40k-$50k.

Stay informed my friends.

Image Source:

https://ethereumworldnews.com/expert-contradictory-opinions-btc-etf-importance/

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