Avner Meyrav
By Avner Meyrav
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Bitcoin Booming Ahead of SEC ETF Decision

One of the hottest assets of recent years is cryptocurrency Bitcoin, which has generated a lot of buzz, and showed incredible growth since 2009. In its earliest days, the currency was worth next to nothing. Today, it is worth over $1,200 and has seen gains in 7 out of its 8 years of existence. Now, Bitcoin could begin a new chapter in the trading world, with a proposed Bitcoin ETF being reviewed by the SEC, and a decision coming by March 11.

To help eToro users to take advantage of this opportunity Bitcoin trading will be available over the March 11-12 weekend!

Cryptocurrencies can fluctuate widely in prices and are therefore not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Your capital is at risk.

Despite solidifying its legitimacy as a tradable currency, and becoming an alluring option for both day traders and long-term investors, Bitcoin was still unable to shake some of its negative image, mainly with more conservative investors. With the Bitcoin going against mainstream currencies and outperforming them many times, it is no wonder it has also been the object of criticism and forces trying to undermine its credibility. On the other hand, it has been able to solidify its status as a safe-haven asset in recent years.

With so many governments trying to manipulate currencies for their own economy’s gain, it is no wonder that Bitcoin became such a popular option for many traders. Unlike other currencies, it is not subject to such manipulation and therefore presented an alternative investment route. As it grew in popularity and value, it became clear that the cryptocurrency is here to stay – and it was only a matter of time until mainstream financial institutions saw this as an opportunity.

Going public

Enter the Winklevoss twins. Tyler and Cameron Winklevoss, who might be most recognisable from their involvement with Mark Zuckerberg and Facebook during its earliest days, have since moved on to become successful entrepreneurs in the Bitcoin space. Investing in several ventures related to Bitcoin, and reportedly making substantial profits from the cryptocurrency, the two have been actively involved in pushing it into mainstream markets.

The twins’ most recent endeavour, which will be made or broken this month, is a Bitcoin-centric ETF called Winklevoss Bitcoin Trust (COIN), priced at $100 million. More than three years in the making, the ETF is now reaching its final stretch, with the SEC’s deadline for decision coming on March 11th. If approved, this will be the first time a mainstream instrument on the NYSE will give investors Bitcoin exposure.

The Bitcoin Boom

However, it seems that the market is not being moderate in waiting for the decision. Bitcoin has been on a steady incline in recent weeks, posting positive numbers and reaching record levels. Those who follow Bitcoin closely over the years might notice that the currency’s pattern has been one of falling nearly every time after reaching record levels. And yet, if the ETF is approved, there’s a chance Bitcoin will display more stability with the SEC’s seal of approval.


Bitcoin has come a long way since its inception in 2009 and is already considered by many investors and financial institutions as a viable investment tool. The already volatile currency will most likely display greater volatility in the days leading up to the SEC’s decision – after which it could solidify its status as a legitimate financial instrument, even to the most conservative investors.

Cryptocurrencies can fluctuate widely in prices and are therefore not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Your capital is at risk.

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