Made me smile .
At least check this out: https://grayscale.co/ethereum-investment-trust/
I think it has a much higher chance of approval than a bitcoin ETF.
Its just starting
At least check this out: https://grayscale.co/ethereum-investment-trust/
I think it has a much higher chance of approval than a bitcoin ETF.
Its just starting
It looks like similar wording to the existing GBTC in which case they don't need the SEC and it will happen. A nice asset for the space. It never really set Bitcoin on fire though, perhaps it'll do more for ETC.
You are right. Because of its small marketcap it is already rising very fast because of the hype. When there is a ETC ETF it will moon bigtime. It feels like Ethereum in its early days. First just a small thing, nobody cared about it. After that lots of other coins join the Ether chain, smart contracts started and it became a real crypto platform. Etc looks like a ugly little brother of Ethereum but when you can actually use it for something like a ETF it finaly gets a purpose and it will go moon.
BTC = store of value, the crypto king, ETH= crypto smart contract platform with tokens , ETC= ETF crypto coin Would be awesome if you ask me.
It already had the split of chains happened so that is out of the way for speculators to say that bitcoin is still in a volatile state right now with all this Bitcoin unlimited business still looming on their minds.
And in a way this can take Ethereum on it's own path away from being just known as a alternative to bitcoin but on it's own as a tool to the smart contracting that they want to promote it as.
This would solidify it as a true business minded platform that all the banks want it to be so they can start using it. They will then all have a sense of "control" of where this cryptocurrency is to be sculptured into for their own gains and purposes, unlike what they would have with the acceptance of bitcoin.
This is very thing the banking commission are known for with all their fees and charges(more profit more commission!) they impose on their clients and users everyday of the year.
That is infact a picture perfect marriage in paradise if they can tie an ETF to ETH and have ETC to distribute their clients money conversions on a daily basis.
I think that was their plan all along.
Anyone else notice the SEC looked as if they didn't give any thought about their decision to let bitcoin have an ETF. As if they knew all along they were going to reject it even if it was presented to them.
They held the original day of the decision on it over the weekend!
So that right there tells you they didn't put even a thought into having it pass in the first place.