Needham: Probability of Approval for a Bitcoin ETF ‘Very Low’

Needham & Company has put together a report on the prospects of the Winklevoss twins’ proposed bitcoin ETF, and it comes with both positive and negative news for the digital bearer asset. Spencer Bogart, a research analyst at Needham & Company, put together the report in response to the questions the company had been receiving from their clients regarding a possible bitcoin ETF. According to the report, the positive effect that a bitcoin ETF would have on the price of bitcoin is vastly underappreciated, and the probability of approval is drastically overestimated within the....

As one of the more high-profile bitcoin ETF efforts edges closer to possible approval, analyst Needham & Co has released a deeper look at the factors that could influence the US Securities and Exchange Commission's decision on the matter. Published Friday, the report doesn't go so far as to alter its outlook for the Winklevoss Bitcoin ETF, positioning its odds of approval at below 25% while continuing to state strongly that any positive outcome would be a substantial boon for the technology. Perhaps most notably, however, the report offers a wider lens-look at three investment vehicles....

Needham & Company has revised its bitcoin price projection as well as its outlook on the Bitcoin Investment Trust (OTCQX: GBTC). The firm sees improvement in bitcoin’s fundamentals, but not in GBTC, downgrading the firm’s rating from “Buy” to “Hold.” Needham Sees Improved Bitcoin Fundamentals. Needham & Company is the investment banking and asset....

The recently released Needham report forecasts the Bitcoin price to reach $848 in the near future. How is Bitcoin faring in the market and what’s in store for the digital currency community in the near future? A recent assessment made by Needham report draws an outline of all the things that might soon happen with the most popular cryptocurrency. One glance at the report, and it is quite evident that the digital currency is right on track. According to the report, the adoption rate of Bitcoin has been better than all previous expectations. With increasing demand, the price projections for....

Needham & Company LLC, released a note for investors Thursday on the ‘Economic and Financial Turmoil Driving Bitcoin Interest & Adoption’. The note discusses various indicators the firm believes would propel increased bitcoin adoption going forward, such as capital controls, demonetization, hyperinflation as well as bitcoin bans. Some factors may....