(VIANEWS) – U.S. Securities and Exchange Commission (USSEC) may be about to approve Bitcoin exchange traded funds that have Bitcoin futures and not bitcoin itself. A wave of filings has been generated that, if approved by the Commission, will be available for trading on November 1.

Bitcoin ETFs are exchange-traded funds that follow Bitcoin’s value and trade on regular market exchanges rather than cryptocurrency exchanges. They let investors to invest in bitcoin without the bother of utilizing a cryptocurrency exchange, while also offering price leverage.

Tax efficiency would be one advantage of Bitcoin ETFs. Because Bitcoin is unregulated and decentralized, the bulk of the world’s tax havens and pension funds do not permit bitcoin purchases. A bitcoin ETF trading on regular exchanges, on the other hand, would almost certainly be regulated by the SEC and qualify for tax breaks.

A Bitcoin ETF listed on major stock exchanges may decrease the barrier to entry, allowing a larger demography of investors to participate. This would bring more money into the Bitcoin ecosystem and assist to solidify Bitcoin’s status as a standard investment asset.

Bitcoin ETF proposals in the US have been circulating since 2013, but none have yet been authorized. The only cryptocurrency ETFs that exist are those that are traded on the Toronto Stock Exchange (TSX), and on Europe’s Euronext and XETRA.

In the meantime, Bitcoin (BTC-USD) Cryptocurrency is currently on bullish momentum by 6.26% in the last 24 hours. At 00:40 EST on Friday, 20 August, Bitcoin (BTC-USD) is at $47,061.0000.

Volume

Today’s last reported volume for Bitcoin is 39063142490, 18.41% below its average volume of 47877705302.49.

All-Time High and Low

Bitcoin’s current value is at $47061, 27.38% below its all-time high of $64805 on Wednesday, 14 April.

Bitcoin’s current value is at $47061, 69302.53% above its all time low of $64805 on Saturday, 6 July.

Market Cap and Supply

Bitcoin’s current market cap is at 885202040651. The total supply is 21,000,000.00, maximum supply is 21,000,000.00, and the circulating supply is 18,791,468.00.

Bitcoin (BTC-USD) Range

Concerning Bitcoin’s daily highs and lows, it’s 6.25% up from its trailing 24 hours low of $44,292.0000 and 0.58% down from its trailing 24 hours high of $47,335.0000.

Social Status

Currently, Bitcoin (BTC-USD) has 3063097 Twitter followers and 3280277 Reddit subscribers.

As of now, on Github, there are 29686 forks, 56450 stars, and 3841 subscribers.

Volatility

Bitcoin’s last week, last month’s, and last quarter’s current volatility was 3.65%, 0.61%, and 3.95%, respectively.

Bitcoin’s current volatility rank, which measures how volatile a financial asset is (variation between the lowest and highest value in a period), was 4.78% (last week), 3.06% (last month), and 3.95% (last quarter), respectively.

Other News About Bitcoin (BTC-USD)

Galaxy digital files for US Bitcoin futures ETF after reporting $175m loss in Q2. According to Benzinga on Wednesday, 18 August, “We lost about 10%, a little more than 10% of our equity, that’s what Bitcoin be down 41%. “, “The prospective ETF will not directly invest in Bitcoinbut instead, invest in cash-settled Bitcoin futures contracts traded on the Chicago Mercantile Exchange (CME).”

Bitcoin cash tumbles more than 3% in 24 hours. According to Benzinga on Wednesday, 18 August, “The chart below compares the price movement and volatility for Bitcoin Cash over the past 24 hours (left) to its price movement over the past week (right). “, “If you are interested in purchasing Bitcoin Cash or want to learn more about it, follow this link to Benzinga Money. ”

What’s up with ethereum classic as it follows Bitcoin, ethereum into bullish consolidation. According to Benzinga on Tuesday, 17 August, “Ethereum Classic (CRYPTO: ETC), Ethereum (CRYPTO: ETH) and Bitcoin (CRYPTO: BTC) were just a few of thepopular cryptocurrencies consolidating on Tuesday. “, “The average daily volume for Ethereum Classic, Ethereum and Bitcoin waslow as of late afternoon, indicating traders were not exiting their positions en massewhich is a good sign for the bulls.”

More news about Bitcoin (BTC-USD).

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