The Bitcoin ETF: A Resolution To The Bitcoin Selling Pressure?

The most recent information on the bitcoin ETF has been erratic. The Winklevoss brothers declared on September 22nd that they will be submitting again after the SEC denied all three of their petitions.

To boost their Bitcoin investment, the Winklevoss twins have applied for a second round of exchange-traded funds (ETFs). With one ETF, they have already achieved success; in only two months, over $200 million was put in it.

For their second endeavor at having an ETF authorized by the SEC, the brothers are attempting to get clearance. An exchange-traded fund included in the program follows changes in the value of the virtual money. If authorized, millions of new investors who haven't yet taken advantage of this market opportunity would now have access.

The Winklevoss twins are not the only ones attempting to get an ETF backed by bitcoin approved. The SEC rejected the attempts of several other businesses that made similar attempts.