The Chicago Board Options Exchange (CBOE) has filed an application for a bitcoin-based exchange-traded fund (ETF) with the United States Securities and Exchange Commission (SEC). The SEC has requested public feedback regarding CBOE’s prospective ETF.
Now all eyes are on the SEC right now, with regards to the CBOE bitcoin ETF application. Investors are expecting huge gain in value of bitcoin (BTC) pump back to its all December highs. Since Bitcoin (BTC) and the altcoins market relationship also goes way back, investors are also expectant that altcoins will surge too. One altcoin that stands to gain the most in case the bitcoin ETF comes through is Ethereum Classic.
With the huge gains that will follow, ETC would also be supported by the upcoming Coinbase listing. This gives Ethereum Classic a double catalyst to pump harder than the rest of the market.
The Coinbase listing is so fundamental that it has held Ethereum Classic stable, even as the rest of the cypto market dropped following the Bancor Dex hack.
Something that should top the charts is the advantage of price that Ethereum Classic (ETC) has, other coins that are listed on Coinbase. If bitcoin pumps and attracts attention from the mainstream media, newbie investors will flock back to the market, mainly through major exchanges like Coinbase.
While doing so, they will also look to invest in coins that offer them the most coins per dollar spent. Of all the coins listed on Coinbase, Ethereum Classic once listed, will be the cheapest of them all. As such, it will be most attractive to new investors looking to put money in crypto in a rising market, further adding to its upward momentum.
Ethereum Classic also has few interesting project on its roadmap. One of the key aspects of this roadmap is the introduction of sidechains, aimed at solving the scalability problem of platforms blockchains.
If the CBOE application is approved, it means that the Ethereum Classic sidechains news will be announced in a bull market, which would further pump up the price of Ethereum Classic
Therefore, it looks like a great time to invest into Ethereum Classic (ETC), in anticipation of this decision. Even if the SEC rejects the CBOE application, Ethereum Classic has the Coinbase listing supporting it. It’s still a win!