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SEC May Approve Bitcoin ETF Amid Consumer Demand

Investors are speculating that the SEC may license a US-based, bitcoin ETF. This exchange-traded fund was the subject of a heated CNBC debate. While the Securities and Exchange Commission rejected the ETF application from Wilshire Phoenix, there is the possibility that another application may be approved, due to market demand.

According to Chris Hempstead, director of institutional business development at IndexIQ, “I think everyone will continue to listen to the feedback and the notes from the SEC, what their comments are, and they will continue to address it.”

Hempstead made it clear that he did not believe the SEC would change its stance anytime in the near future. However, market pressures may shift them in another direction. People want to diversify their investments, especially amid the stock market drop due to the coronavirus. Granted, bitcoin was not immune to this virus either.

You might consider learning how to trade in bitcoin, rather than waiting around for a bitcoin ETF that may never materialize. This skillset will no doubt transfer to any electronic trading you do, now or in the future.