[2017-1-14] Bitcoin ETF may attract $300 million in the first week, says Needham

[newsatbravenewcoin]

Global investment bank and asset management firm Needham & Company recently released a short investment report focusing on the the Grayscale Bitcoin Investment Trust (GBTC). While analyst Spencer Bogart gave GBTC a “Hold” rating, which means the price of the Trust is expected to go sideways over the coming year, the report also included detailed research on the upcoming Winklevoss ETF.

http://bravenewcoin.com/news/bitcoin-etf-may-attract-300-million-in-the-first-week-says-needham-and-company/

[maku]

I am waiting for ETF for years. Winklevoss wanted to create their Coin ETF since 2013, it is ludicrous that they are being hold in place by legal issues and tardiness of officials.
We really should hope that 2017 with be the year, we need it to combat Chinese FUD, and this Trust would likely cause the price of bitcoin up dramatically.

[1Referee]

I am waiting for ETF for years. Winklevoss wanted to create their Coin ETF since 2013, it is ludicrous that they are being hold in place by legal issues and tardiness of officials.
We really should hope that 2017 with be the year, we need it to combat Chinese FUD, and this Trust would likely cause the price of bitcoin up dramatically.

People have been waiting so long, that they have given up on spending any more time waiting for something that might take another year or two before it gets approved fully. But I am sure that when it launches, it will give the price a massive boost. Regarding the fud, it's people that take everything for granted so easily. If they would just spend 10 minutes on analyzing every bit of news regarding the investigation of Chinese exchanges for example, then they would see that nothing serious is going to happen. Exactly this is what is holding back Bitcoin from growing further (prise wise). Big players behind the scenes know that too, where they constantly exploit this point of weakness. It's pathetic that so many people fall for it so easily.

[cr1776]

Global investment bank and asset management firm Needham & Company recently released a short investment report focusing on the the Grayscale Bitcoin Investment Trust (GBTC). While analyst Spencer Bogart gave GBTC a “Hold” rating, which means the price of the Trust is expected to go sideways over the coming year, the report also included detailed research on the upcoming Winklevoss ETF.

http://bravenewcoin.com/news/bitcoin-etf-may-attract-300-million-in-the-first-week-says-needham-and-company/

FUD is the reason it might not get approved.  Gotta love the nanny-state Luddite, authoritarians in charge.

If $300 million comes in during the first week, the impact would be immense.

$300,000,000 at $1000/bitcoin (to make the numbers easy) means 300,000 (more than that at $800-850) bitcoins would be required.  New coins are mined at ~1800/day so that is 166 2/3 days (about 5.5 months!) of new supply.

So, to purchase that much would surely impact the market in a huge way. Now they may be selling some of their own coins to it, so that would decrease the amount that would need to be purchased, but any way you look at it, if approved AND if people invest in it at the rates they project, the price effect would be large.  

And once it starts, momentum players could follow.  The smart ones will realize that the earlier you get in the more upside there is.

[TraderTimm]

There's less than 5 million coins to go.

The real race for any investment vehicle is getting a supply of coins. If it isn't the Winklevoss ETF it might be a listed futures product, or something else. Let's not forget that real futures are trading now on a Ukrainian exchange, which is fully regulated.

The players that understand the dwindling supply numbers will get on the ball and make it happen. It doesn't have to be one specific investment vehicle -- its inevitable that the larger money comes in. We're talking about the biggest potential market move in the making with a reducing supply. Any good trader knows what the hell that means.

[Kprawn]

There's less than 5 million coins to go.

The real race for any investment vehicle is getting a supply of coins. If it isn't the Winklevoss ETF it might be a listed futures product, or something else. Let's not forget that real futures are trading now on a Ukrainian exchange, which is fully regulated.

The players that understand the dwindling supply numbers will get on the ball and make it happen. It doesn't have to be one specific investment vehicle -- its inevitable that the larger money comes in. We're talking about the biggest potential market move in the making with a reducing supply. Any good trader knows what the hell that means.

Just a pity the fiat slaves wants to stall this process until infinity. We have seen these stall tactics with BitLicense too. They will do ANYTHING

to hold on to the power and the money that can be manipulated by a selective bunch of rich people. Kudos for the Winklevoss twins at

attempting to get a foot in the door, but this will not happen in our life time, if it depends on these masters. 

[Immakillya]

Im just curious. What is ETF? Anyway, it would be great if that $300 million really happen. It would be beneficial for us and so as the investors. If thats happen, it may attract more investors because tgey are a huge company. Wow! $300 million is really huge. Hope to see more of this in the future. And the price pumps again.

[cr1776]

Im just curious. What is ETF? Anyway, it would be great if that $300 million really happen. It would be beneficial for us and so as the investors. If thats happen, it may attract more investors because tgey are a huge company. Wow! $300 million is really huge. Hope to see more of this in the future. And the price pumps again.

ETF = Exchange-Traded Fund

https://en.m.wikipedia.org/wiki/Exchange-traded_fund