Bitcoin ETF Explained + News From SEC
C hances are you've already heard of Bitcoin ETFs and the hype around them. It is a guide for those who want to make it.
First , let's make sure you know what an ETF is. An ETF, which is a collection of assets. In this way, ETFs allow investors to entertain their assets.
Have you ever been able to pay? If so, you have dreamed of a Bitcoin ETF. Indeed, it is a bitcoin ETF. Moreover, since the ETF holders will not be directly investing in bitcoin, they will not be able to accept any cryptocurrency investors.
Further , with ETFs, there is no need to deal with cryptocurrency exchanges. One can buy and sell the ETF through regular exchanges. And last but not least: ETFs are much more appreciated across the investment world than cryptocurrencies. It could be a little bit more understanding.
However, companies trying to launch bitcoin ETFs have faced struggles with regulatory authorities so far. For instance, the Winklevoss brothers, known as the first bitcoin billionaires, had their first application to launch a bitcoin ETF (“Winklevoss Bitcoin Trust”) declined by the USA SEC in 2017. The reason was that bitcoin is widely traded on various unregulated exchanges, giving room for potential fraudsters.
CBOE Global Markets, Inc. also applied for digital currency-related ETFs, but hadn’t got the SEC approval as well. VanEck and SolidX, a fintech company involved in a range of bitcoin-related projects, tried to launch a VanEck SolidX Bitcoin Trust ETF (XBTC), widely recognized as the most promising bitcoin ETF in the industry. But on September 21st SEC delayed the decision on it.
Therefore, the SEC, therefore, hasn’t been approved any digital currency ETFs so far. But crypto enthusiasts remain optimistic. If you’re a bitcoin ETFs
If you have your own thoughts on the subject of the ETFs,
Stay tuned to ICOs and crypto industry.
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