Is Coinbase Exploring A Crypto ETF? Bitcoin Remains Under $6,500 – September 7th Cryptocurrency News
Hi there, well let’s see how Bitcoin performed over the past few days. It started off pretty well, hitting a one month high on Wednesday before suffering losses again. A report by the Business Insider that Goldman Sachs was dropping its cryptocurrency trading desk plans seemed to have had a negative impact on crypto sentiment.
After it hit a one month high, we saw Bitcoin fall all the way to $6,400 on Thursday after the Business Insider report. But Goldman Sachs Chief Financial Officer Martin Chavez described the report as fake news while on stage at the TechCrunch Disrupt Conference in San Francisco this week. He said, “the next stage of the exploration is what we call non-deliverable forwards, these are over the counter derivatives, they’re settled in U.S. dollars and the reference price is the bitcoin-U.S. dollar price established by a set of exchanges.”
Now let’s take a look at some other crypto news. San francisco-based cryptocurrency exchange Coinbase is apparently thinking about creating a crypto exchange traded fund. An ETF would be targeted more mainstream investors. The U.S. SEC has already rejected several ETF proposals. The SEC also postponed its CBOE bitcoin ETF decision until September 30th.
Let’s take a quick look at a cryptocurrency survey conducted by SharePost.
It said, cryptocurrency prices have seesawed over the past several months. Nevertheless, 59 percent of investors and 72 percent of consumers plan to increase their holdings over the next 12 months. Majority of respondents expect crypto valuations to increase over the next 12 months though investors were less bullish than in our previous survey. 57 percent of investors and 66 percent of consumers expect growth in crypto valuations over the next year.
Please remember this is news, not investment advice.