Bitcoin exchange-traded fund (ETF): Will BOTS' trading bots profit from an approval?
Bitcoin (BTC) is slowly and steadily growing into a mature asset class. For many investors, the cryptocurrency offers an alternative to physical gold. However, many of these investors are still waiting on the sideline of crypto because of one big obstacle – regulators. There are now some signals that the first American exchange-traded fund (ETF) might be approved soon. Trading bots that trade in crypto, are likely to profit.
‘Bitcoin is maturing,’ states finance giant Fidelity
People in crypto and the traditional finance world have been waiting for the approval of a bitcoin ETF, a fund that tracks the bitcoin price. Investors can buy shares of such a fund via traditional trading platforms. While there are already some ETFs in Europe and Canada, US investors still don’t have the option to invest in bitcoin through an ETF.
The US Securities and Exchange Commission (SEC) looked at several bitcoin ETF applications in the past but rejected every single one of them. However, with Bitcoin growing consistently, the grounds on which the SEC has rejected previous bitcoin ETF applications seem to crumble down slowly.
This month we even saw finance giant Fidelity putting pressure on the SEC. Top executives of Fidelity attended a meeting with the SEC to address the current state of Bitcoin, underlining the fact that Bitcoin is mature enough to become part of an ETF.
If the SEC approves an ETF, many new investors may enter the crypto market. Kevin O’Leary, millionaire and Shark Tank star, expects that an approval could lead to a trillion-dollar worth of buying. This new inflow of capital can have a positive impact on the prices of bitcoin and altcoins.
Trading bots are ready to act
The trading bots that you find in the BOTS app are constantly monitoring price movements and the situation on the market. So, in the case of the SEC approving a Bitcoin ETF, the bots are ready to act.
Investing using a trading bot is easy thanks to the BOTS app. Download the app now and see for yourself!