A bitcoin ETF will be a major catalyst
The volumes in the Canadian ETF from Day 1 of the launch were incredible. You can only imagine how sensational they will be in a US EFT. That would also open up all kinds of tax-sheltering options for buyers.
The SEC issued a "Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change to List and Trade Shares of the VanEck Bitcoin Trust."
The earlier timeline gave the SEC until May 3 but they've extended it for at least 45 days. There was no reason given aside from this:
The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the comments received
Bitcoin is down $783 to $54,417 today.
