Last Updated: 11 March 2021
The U.S Securities and Exchange Commission’s (SEC) reluctance to approve a Bitcoin exchange-traded fund (ETF) doesn’t seem to discourage issuers these days.
One such is Simplify Asset Management, which has gone ahead to find ways to structure its products. The firm plans to roll out a Bitcoin product that’s not entirely focused on bitcoin. And why should they? The regulators still don’t trust the crypto sector.
Simplify’s U.S. Equity PLUS Bitcoin ETF
Simplify has filed its Equity PLUS Bitcoin ETF with the financial regulator. According to the filing, the Simplify U.S. Equity PLUS Bitcoin ETF will invest up to 15% of its assets in cryptocurrencies, either “indirectly and solely” through Grayscale’s Bitcoin Trust.
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- Financialnewsmedia.com News Commentary
PALM BEACH, Fla., March 11, 2021 /PRNewswire/ Bitcoin was the first and is still most well-known cryptocurrency. People were skeptical at first but the cryptocurrency tidal wave hard to ignore! Despite Bitcoin being well known amongst traders for its price swings, many believe that this leading digital currency is here to stay. The beginning of the pandemic immediately sparked rumors about a new financial crisis hitting the globe with all its might. Indeed, nobody knew how long it would take the world to combat COVID-19. The government started the money creation process, and the US dollar index slid to the lowest level for the first time in the past few years. As the market hates uncertainty, the whole world froze, awaiting election results. Stock market and gold prices dropped again as a natural response to the election season, and everyone expected Bitcoin to follow the same falling trend, but it didn t. A recent report from an indu