"SEC May Approve Bitcoin ETFs,Boosting Prices"
The US SEC is considering approving multiple Bitcoin ETFs submitted by US companies.
Matrixport's Research Head,Markus Thielen, believes this could lead to a significant Bitcoin price increase.
Thielen notes ETF providers will invest heavily in marketing to attract retail and institutional investors.
Next week, SEC will review applications for GBTC Grayscale and ARK 21Shares Bitcoin ETFs, with seven more applications expected in September.
Physical Bitcoin ETFs could have management fees of 0.7-1%, generating up to $200 million yearly,plus marketing costs.
Impact on Bitcoin price: SEC-approved ETFs might positively affect prices,requiring investors to maintain daily "upside exposure."
