NEWS ZAP
Here's Why November 14 Is One of Most Important Days for Bitcoin
On Nov. 14, the Securities and Exchange Commission of the U.S. will give the industry its final decision on the approval or disapproval of the first physically-backed Bitcoin ETF in the U.S.
The approval of the new fund will be another step toward mass adoption and the creation of exposure for institutional investors without additional rolling costs and issues that are currently tied to the existing futures-based ETFs.
Unfortunately, the SEC's past sentiment toward physical cryptocurrency ETFs has been loud and clear: the commission will not approve any products with underlying assets that they cannot control. Due to Bitcoin trading being almost completely decentralized, the commission currently cannot directly control the trading process—thus protecting the country's citizens from possible market manipulations.
