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) exchange-traded fund (ETF) last week elicited a wave of exuberance in the crypto space and sent the price of the key digital currency to a new. The U.S. Securities and Exchange Commission (SEC) on Wednesday rejected applications for nine bitcoin-based exchange-traded funds (ETF) from. The iShares Exponential Technologies ETF seeks to track the investment results of an index composed of developed and emerging market companies that create. 0.2123 BTC TO USD
Grayscale is a digital currency asset manager; it runs the Grayscale Bitcoin Trust. Regardless, most bitcoin activists — and the ETF community — are cheering it as a small but critical step to open the crypto market to a much wider audience. Gensler and the SEC have a crypto problem, and a bitcoin futures ETF will help Gensler wants to be supportive of financial innovation like crypto, but he lacks regulatory authority over critical areas like crypto exchanges. He wants to crack down on the fraud and nefarious elements and the criminal activity.
He wants to put a regulatory framework around it. It's likely that Congress will need to step in and provide a broad regulatory structure for the whole crypto space, but the chances of that happening soon are slim. However, the crypto space is growing so fast Gensler is under enormous pressure to do something. The SEC can only go so far in claiming regulatory jurisdiction without ruffling the feathers of other agencies.
So the temporary solution is to allow a bitcoin futures ETF to begin trading. A bitcoin futures ETF allows the broader public to get involved without many of the problems around owning the virtual currency. First, you don't have to worry about custody. ETFs can be bought, sold and traded on traditional stock market exchanges instead of cryptocurrency trading platforms. It is a solid way to give mainstream investors and speculators bitcoin price exposure through a reliable vehicle with which they are likely already familiar.
Exchange-traded funds are not a new invention and are common in the financial sector. ETFs can be found to gain price exposure to different assets and industries, including commodities and currencies, or can be set up to focus on companies that are environmentally friendly or focus on diversity.
The addition of a bitcoin ETF would expand the pool of available options to U. What are the benefits and drawbacks of a bitcoin ETF? Users do not own BTC directly, gaining price exposure without asset ownership through investment vehicles they are more familiar with and tax rules they know.
Portfolio diversification: An ETF can hold more than one asset.
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