Why the First Bitcoin ETF Could Double the Price of Bitcoin

The arrival of the first Bitcoin ETF will have a bigger impact on the Bitcoin price than even most of the digital currency’s supporters suspect.
And that moment isn’t far away. The Winklevoss Bitcoin Trust (BATS: COIN) exchange-traded fund is in the final stages of its SEC approval process.
While it’s still possible the SEC will reject the Winklevoss Bitcoin ETF, it’s far more likely it will be approved. And the SEC must rule one way or the other by March 2017.
Related: Why the Winklevoss Bitcoin ETF Is Back on Track for Approval
Most of the Bitcoin community has assumed the approval of the first Bitcoin ETF will be a positive for the price of Bitcoin. That’s because it will add to the legitimacy of the digital currency in addition to providing a new avenue for people to invest in Bitcoin.

This post was published at Money Morning on September 9, 2016.