ETFs are investment products that allows investors to more easily and cost effectively gain exposure to investable assets. There are two U.S.-based bitcoin ETFs currently under review by the SEC: the Winklevoss Bitcoin Trust ETF (COIN) from the Winklevoss brothers Tyler and Cameron, and the XBTC ETF from SolidX, a blockchain investment fund.
As Needham reported this week, the SEC has until March 11th to make a final decision on the COIN ETF. And if it is approved, Needham estimates $300M in assets will flow into the ETF in its first week.
Two additional data points indicate ETF approval will be very good for bitcoin's price and the legitimacy of cryptocurrencies as an asset class:
Number one: The Bitcoin Investment Trust, still the only U.S.-based exchange-listed product that tracks the underlying price of bitcoin, is trading at a 30% price premium over bitcoin today. This premium was…
