Experts from Ironwood Research Group, a company specializing in the research of new technologies, I believe that the exchange rate for bitcoin may soon rise to $35 000. And it will happen thanks to the arrival on the market of exchange-traded funds (ETFs) that focus on bitcoin.
In addition to ETFs, the “engine” for bitcoin also called institutional investors, that is, different pension funds, insurance companies, credit unions and other financial institutions.
Known captainvalor, including the head BlockTower Capital Ari Gender (Ari Paul), believe that the active participation of institutional investors will trigger an intermediate rally to the end of 2018. According to Paul, the last barriers that impede such investors to enter into the cryptocurrency market, are the lack of trust and the set of institutional cryptocurrency solutions.
On such a decision, for example, works Coinbase Custody, creating a platform to store digital assets of the different agencies. Paul believes that as soon as they are introduced, institutional investors will come on the market.
“Institutional money started to flow into the cryptocurrency business in the middle of 2017. However, slower than many expected… the Important part of this process for the storage assets to a third party… Solutions for store will need time to gain the trust of investors. But I think it will happen in September this year,” said Ari Paul.
Specialists Ironwood Research Group believe that, along with institutional investors, the emergence ETF is also able to raise the price of the main digital currency and start a new rally. However, as explained by the head of the company Michael Stratton (Michael Strutton), exchange-traded investment funds must also obtain the approval of the Commission on securities and exchange Commission (SEC). But, if that happens, anyone with pension savings account or investment account with an intermediary company type Fidelity and Ameriprise Financial, will be able to easily invest in the cryptocurrency market.
Stratton noted that the involvement of the ETF will be the growth rate of bitcoin, at least up to $26 000 and a maximum of up to $44 000. In his opinion, if using ETFs come to the market 24 million American investors and foreign 14 million, the capitalization of bitcoins will increase significantly. Growth of $420 billion will raise the rate of bitcoin to the aforesaid figures.
Recall that the U.S. has already developed several ETF projects. Entrepreneurs Cameron Winklevoss (Cameron Winklevoss) and Tyler Winklevoss (Tyler Winklevoss), who founded the American popular crypto currency exchange Gemini, at the moment working to create their own ETFs Coin, cryptocurrency-focused company. And SolidX, which last year unsuccessfully tried to obtain permission from the SEC to the opening of the ETF, VanEck has teamed up with to submit a joint bid on a new project and thereby increase the chances for approval.
Meanwhile, in China, a growing number of investment exchange-traded funds, portfolios which include shares of local cryptocurrency and blockchain-companies. Recently on the launch of its ETF in the country announced the project Reality Shares. One of the largest Chinese exchanges Huobi is also working on its own Fund.
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