The Bitcoin Exchange Trading Fund application filed by the Winkelvoss twins is nearing its decision date next month on March 11th. As traders are eagerly awaiting the SEC’s decision on whether Bitcoin will become an ETF, the market is showing quite a bit of excitement. Bitcoin’s price jumped over 6% in the past few hours peaking at $1047 on Bitstamp. If Bitcoin becomes an ETF its price will undoubtedly skyrocket, as becoming an official traded security provides Bitcoin with the credibility that potential investors are looking for. One of the main reasons why people are still wary of cryptocurrencies, is because they do not feel that this “magic internet money” is tangible. At least you can see and feel gold and cash, but Bitcoin is in the cloud so to speak. With the approval of the SEC, those interested in Bitcoin will realize it is a legitimate asset that won’t suddenly disappear into thin air.