Is Bitcoin About To Get It’s Own ETF?
Upstart crypto news and data provider AMFeed reports that bitcoin is about to get a big boost from none other than the Securities & Exchange Commission:
A source told AMFeed News that big bitcoin buyers were active this week in the over the counter (OTC) miner markets ahead of a regulatory announcement by the Securities and Exchange Commission (SEC) next week.
“The price of bitcoin will rise next week. An announcement on bitcoin is coming in the US next week. Big buyers are active this week,” the source told AMFeed. The source is a former veteran government employee within the telco sector of the Hong Kong government but asked not to be named as the issue was sensitive.
Evidence of this trend is born out in the heavy buying of Bitcoin on AMFeed’s big buyer feed. While over 52% of all the day’s trades on Wednesday, October 31 were buy orders, most of the buys were for much larger averages than the executed sell orders.
The source added that miners are giving the average buyer now an average 2% discount (to exchange prices) over-the-counter, with 5% discounts available for orders over $10,000.
A Bitcoin ETF would certainly be the bang for the year-end everyone’s been waiting for!