Bitcoin prices high, the first bitcoin ETF is expected to be approved by SEC
Due to the SEC (SEC) approved the first bitcoin Trading Fund optimistic bitcoin digital currency hit a record high in Friday’s trading price. Global advisors bitcoin investment plan (GlobalAdvisorsBitcoinInvestmentProgram) portfolio manager Daniel McMaster (DanielMasters) said, “there is a catalyst, which is expected in March 11th will be approved by WinklevossTrust.”
Nearly four years ago, investors Cameron Winklevoss (CameronWinklevoss) and Taylor Winklevoss (TylerWinklevoss) brothers made a bitcoin ETF to the U.S. Securities and Exchange Commission (ETF) application, and this application has no results. In March 11th, the two brothers are expected to get the final ruling of the U.S. Securities and Exchange Commission, whether to approve their ETF listing.
If the U.S. Securities and Exchange Commission, which will be the first bitcoin ETF issued by the entity.
This Friday in the BitStamp platform, bitcoin climbed to a record $1298. A bitcoin trading day closing price of $1263.01, rose nearly 5%. So far this year, bitcoin has soared more than 30%.
Bitcoin is a virtual currency that can be used to quickly and anonymously and unregulated transfer money in the world.
Bitcoin wallet KeepKey founder and CEO Darin – Stanchfield (DarinStanchfield) said that the approval of WinklevossETF on the market is a huge boost. He also said, “this should increase large amounts of liquidity to the bitcoin market.”
So far, there are submitted to the U.S. Securities and Exchange Commission and the other two bitcoin ETF. Grayscale last March, Grayscale investment company BitcoinInvestmentTrust submitted this application to the U.S. Securities and exchange commission. BitcoinInvestmentTrust from the early bitcoin advocate Barry Hilbert (BarrySilbert) and his DigitalCurrencyGroup. In addition, the blockchain technology company SolidXPartners in July of last year to the U.S. Securities and Exchange Commission (SEC) submitted bitcoin Exchange Traded Fund (ETF) listing application.
Rely on the so-called “bitcoin mining machine, and mining machine is installed in the computer program. Bitcoin network by mining “to generate a new bitcoin. The so-called “mining” is essentially to solve complex mathematical problems with computer, to ensure consistency of distributed bitcoin network accounting system. Bitcoin network will automatically adjust the difficulty of mathematical problems, make the whole network each about 10 minutes to get a qualified answer. Then bitcoin network will generate a certain amount of new bitcoin as a reward, reward people for answers.
Analysts said that after the last July after bitcoin “halved” output, bitcoin mining revenue contraction. This means that the number of money supply is limited.
Hedge fund PanteraCapital CEO Dan Morehead (DanMorehead) recently said in a letter to investors in the letters, bitcoin price performance in line with the use of the currency in the transaction, both of which are sharply rising.
He believes that by the end of this year, bitcoin prices could rise to $2288.