Major news today ! Well, news, it is still a rumour… the SEC seems to have finally allowed a Bitcoin ETF. ProShares announced the launch of a Bitcoin ETF (Futures tracker) on the New York Stock Exchange (NYSE) on monday 18th 2021. It will trade with the BITO ticker.
The SEC could still object
The SEC has not filed an objection yet. Let’s keep our fingers crossed, the SEC have until monday 18th to file an objection. If the SEC did file an objection, that would be a major disappointment.
Buy on the rumour, sell on the news
Bitcoin gained more than 10% over the past days, reaching 60.000 dollars. These gains seems to largely be in anticipation of an ETF approval by the SEC. These gains could evaporate in a matter of minutes should the SEC file the dreaded objection.
Be still my beating heart !