‘Buy The Rumor, Sell The Fact’—Could A Bitcoin ETF Approval Fuel A Sell-Off?

‘Buy The Rumor, Sell The Fact’—Could A Bitcoin ETF Approval Fuel A Sell-Off?

SEC approval of a bitcoin ETF could cause bitcoin prices to decline, says Pantera Capital's Dan ... [+] Morehead. (Photo by Wang Zheng/VCG via Getty Images)

For years, investors, digital currency enthusiasts and market observers have been waiting for the U.S. Securities and Exchange Commission (SEC) to approve a bitcoin exchange-traded fund (ETF).

Currently, there are several proposals for ETFs linked to bitcoin futures, and some enthusiasts have grown confident that the SEC will provide one of these applications with a green light.