The Bitcoin could reach a value of $200,000 within a couple of yearsat the end of 2025, following the rally triggered byapproval of an ETF on cryptocurrency, born from an idea by Satoshi Nakamoto. This is what Standard Chartered analysts predict, waiting for the Securities Exchange Commission, the equivalent of Consob in America, to announce its historic (and now obvious) decision.
The SEC will have to decide today whether to accept the 11 questions received from various management companies, including the giants BlackRock and Fidelity, relating to the launch of an Exchange Traded Fund (the share of a fund that invests in a specific underlying) on spot price of Bitcoin and not on a future linked to the cryptocurrency (that already exists).
A painful decision until the end, because a couple of days ago the SEC asked to the 11 potential issuers of the Additional Information. The requested documentation was deposited by the applicants yesterday evening, only twenty-four hours before the SEC’s decision, expected today in the “Zona Cesarini”.
A historic decision
What is certain is that the Securities Exchange Commission will be one historic decision for cryptocurrencies and destined to influence (positively) their trend in the coming years. And a historic decision also for the entire world of finance, which will see the birth of a new mature instrumentno longer a niche, intended for revolutionize traditional finance.
This is the right time
However, there is a certain optimism among market operators that this will be the right time. Last Monday, in an interview on CNBC, a former SEC chairman, Jay Clayton, stated that approval is now a given. “I think approval is inevitable. There is nothing left to decide,” Clayton said, who believes “imminent” the debut of Bitcoin in the world of ETFs.
SEC fears behind us?
The American authority has been rejecting applications for a Bitcoin ETF for at least 10 years and the reason is to be found in the worry of the supervisory body regarding the potential fraud and manipulation of the market. But the increasingly stringent regulation of the crypto market dictated in the last five years should have dispelled any doubts. “Five years ago, there were wash sales, there was laddering, there were all kinds of things that you didn’t want to make available to the general public because of this risk,” Clayton pointed out.
The hacker mystery on the SEC profile
And while the verdict of the American authorities was awaited popped out a post which gave the ETF as already approved by the SEC, no less on the official profile of the supervisory authority on (Twitter). so much so that the supervisory body was forced to specify that it was an identity theft, work of hackersand that no decisions have been made or are guaranteed regarding the ETF.