Spot-bitcoin ETF refers to a financial vehicle approved by the US markets regulator, SEC, to invest directly in bitcoins rather than via derivatives. The move, if approved, would widen this cryptocurrency’s reach and popularity among investors.
US regulators are expected to decide on approving the first bitcoin exchange-traded fund (ETF), which could bring bitcoin further into the financial mainstream. The price of bitcoin has already surged in anticipation of the SEC s approval. An ETF is an easy way to invest in something without owning it, and a bitcoin ETF would allow new investors to enter the market without the need for additional steps. The SEC has received applications for 11 bitcoin ETFs, and the agency could approve or reject them all on the same day. However, some crypto enthusiasts may object to ETFs as they introduce traditional financial intermediaries into the crypto world and charge fees.
Regulators had to do some emergency damage control after the X-formerly-Twitter account of the Securities and Exchange Commission got hacked on Tuesday. In a since-deleted pot, the account claimed that the regulator had approved a Bitcoin exchange-traded fund (ETF) "on all registered national securities exchanges," which sent the price of Bitcoin soaring to almost […]