For Investors following Ethereum price and the developments that might affect its price, these are certainly important news. This article will cover why.
How can Ethereum Price be impacted by First Bitcoin Capital?
Good question, since First Bitcoin Capital, until July 2017 had nothing to do with Ethereum Ecosystem. But that has changed now since the company just announced a significant investment into AlphaBIT, giving them controlling interest in this closed-end crypto-exchange traded fund (CETF).
First Bitcoin Capital has a solid track record of investing early on in budding but highly lucrative Blockchain technologies and Cryptocurrency related financial operations. They ventured very early in the booming and very lucrative industry of ICO underwriting and issuing of digital currencies.
- AlphaBIT is the World’s First Crypto ETF, COIN: ABC.
- ABC runs on the Ethereum blockchain and uses a smart contract generated by DAO ( Decentralized Autonomous Organization)
- By acquiring controlling interest in AlphaBIT, First Bitcoin Capital now has an important exposure to Ethereum
In the communication shared by First Bitcoin Capital, they stated the company’s intent to:
“Register AlphaBIT with the SEC and subsequently cause its shares to trade on a non-crypto, more traditional stock market, such as NASDAQ, NYSE, or the London Stock Exchange”.
This is another major vote of confidence in Ethereum and Cryptocurrencies. If BITCF is successful in registering and trading in traditional stock markets, this will be another major step towards mass adoption. We know how an increase in mass adoption will pan out: A significant increase in demand, leading to an increase in Ethereum’s price.
Note that this is neither the first nor the only major step towards bringing Ethereum to the masses of traditional investors. There has been a few so far that you can read about here:
- Bitcoin Options available to the American Market as of September 2017, Ethereum very likely to be next
- Dether and OMG tokens‘ potential to increase mass adoption
- How Ethereum can revolutionize the music industry
- The South Korean actions to regulate the Cryptocurrency market and provide investors with a stable investing platform
- Additional members joining the Ethereum Alliance therefore increasing the adoption and demand for Ethereum
- The rising number of countries considering digitizing their currency and the potential Ethereum has to become a world currency