The launch of Bitcoin (available on Coinbase) ETF’s could drive Bitcoin (available on Coinbase) (BTC) price higher. Although the SEC has previously denied permitting Bitcoin (available on Coinbase) ETF trading, two asset management firms have collectively submitted a new application to introduce regulated Bitcoin (available on Coinbase) ETF’s (Exchange-Traded Funds).

SolidX Management LLC and New York-based asset manager Van Eck Associates Corp said their new product would cover all the concerns that the SEC has highlighted in their previous denial.

“I believe that Bitcoin (available on Coinbase) has emerged as a legitimate investment option, as a type of ‘digital gold’ that may make sense for investors’ portfolios,” Jan van Eck, the chief executive officer of VanEck, said in a statement.

Source Image: coinmarketcap.com

Bitcoin (available on Coinbase) ETF’s: A New Filing Addressed SEC Concerns

The main targeted investors for this ETF are institutional investors rather than retail traders. This is due to the SEC’s warning that cryptocurrencies carry a higher risk for retail investors.

The high price tag of $200,000 per share is an indication that institutional investors are taking interest in regulated Bitcoin (available on Coinbase) ETF’s. SEC had also raised concerns about a lack of transparency on online platforms, which they believe are much easier to manipulate. The firms are now planning to introduce a trading desk for price data instead of doing all the business through online platforms.

What Would be the Impact of Bitcoin (available on Coinbase) ETF’s on Crypto Markets?

Source Image: twitter.com

Bitcoin (available on Coinbase) market pundits, on the other hand, believe Bitcoin (available on Coinbase) ETF’s could attract a huge amount of investments in cryptocurrency markets. Bitcoin (available on Coinbase) price and the rest of cryptocurrency market rose slightly higher amid renewed prospects for the launch of regulated Bitcoin (available on Coinbase) ETF’s.