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RE: Why A Bitcoin ETF Will Change Everything For All Cryptocurrencies
This would be great news for cryptocurrencies! I am a long time stock trader and you are exactly right what ETFs did for the price of gold.
The big players feel much safer when they know they can unload if they need to. The importance of increasing liquidity can't be overstated enough!
Yeah we can only hope what happened to gold with GLD to happen to bitcoin. Definitely agree with the liquidity statement. Big players need to be able to move in and out of positions without tanking/pumping the market and an etf, or 2 etfs like the ones that are in the process of applying can help this greatly.
Yep. It will also add a layer of legitimacy to the entire cryptocurrency universe, thus benefiting Steem.
As you mentioned above many investors do trust the stock exchanges and this would be a huge windfall in gaining trust.