New Bitcoin ETF Alternatives Emerge as SEC Continues to Reject and Delay the Inevitable

New Alternatives to Bitcoin ETFs Emerge as SEC Continues to Reject

Cryptocurrencies and blockchain technology are typically seen as one, however, certain players tend to view them differently. This being said, diverse businesses and financial institutions have since dived into the blockchain sphere and assessed their likelihood of making a positive difference and increasing efficiency. Unfortunately, the same cannot be said in regard to the crypto sphere, as the market continues to either see stagnation or drops in prices.

Bitcoin exchange-traded funds (ETFs) have been highly anticipated for by investors due to the claims that it would lure in institutional investors, hence bringing in “new” money to the market. The biggest example of an ETF proposal is that of the Winklevoss twins. When the duo proposed the idea for a bitcoin ETF to the SEC, BTC saw its prices going up from the USD$6,000 to USD$8,000 ranges. Upon its refusal, the price crawled back to its original, USD$6,000.

Winklevoss’ bitcoin ETF was not the only one to have been rejected by the SEC, as this year marks a total of nine rejections altogether. So, what now? Will institutional investors have to wait on the sidelines until a good opportunity sparks up? Apparently, the answer is no and social trading and multi asset brokerage firm, eToro plans to set an example.

Firms Create Opportunities as Opposed to Simply Waiting!

According to a Finance Magnates’ post, companies like eToro have decided it would be best to create alternatives to Bitcoin ETFs, which will satisfy investment needs of institutions. eToro was the primary example given throughout the post – emphasizing the firm’s over-the-counter (OTC) Bitcoin trading desk launch, which was tailored specifically for institutional investors.

In addition to the OTC, eToro has also partnered with Premier League Football Clubs. This partnership was supposedly negotiated by Sport Quake, and together, the duo supposedly has the ability to create a name for itself (which it already has thus far), while ensuring that essential spotlight is given to both Bitcoin (and altcoins) as well as the technology supporting them.

This only goes to show that waiting on the SEC to finally approve a proposal for Bitcoin ETF is not going to help the current crypto market. As it fails to see new investors and money, the problem of volatility will continue to linger, ultimately forcing out interest in the market.

As previously reported by Bitcoin Exchange Guide, CEO of O Group, Maja Vujinovic is an industry specialist who vouches that ETFs aren’t the only solution to the lack of new investors and measures taken by firms like eToro only seem to back that argument up!

So, should we forget about Bitcoin ETFs for the moment and focus on other ways to introduce the crypto market to institutions? If yes, what are some possible options? Comment below!

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Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

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