The US Securities and Exchange Commission (SEC) has cleared the way for Bitcoin exchange-traded funds (ETF). How the authority announced after the US stock market closed, funds that allow investors to invest directly in Bitcoin can now be listed on the stock exchange in the USA. SEC Chairman Gary Gensler spoke of a turning point for the world‘s largest cryptocurrency and the broader crypto industry.
There has been speculation for months that the US Securities and Exchange Commission would take this step. This gave the Bitcoin price a strong boost.
Several asset managers had applied since 2013 to be allowed to launch such spot Bitcoin ETFs. The SEC (Securities and Exchange Commission) has so far rejected this on the grounds that the products are vulnerable to market manipulation. Last year, leading market-determining companies such as BlackRock and Fidelity also submitted applications.
Despite the certainty that now prevails, Bitcoin hardly reacted to the news by its standards. Most recently, one Bitcoin was worth a good 45,300 US dollars.
On Tuesday, an SEC announcement about the approval published via Platform X caused unrest in the market. The SEC distanced itself from the announcement and said its Twitter account had been hacked. According to the information, it was not protected by two-factor authentication. The authority itself warned network users about the dangers of unsecured accounts warned.
The US Securities and Exchange Commission (SEC) has cleared the way for Bitcoin exchange-traded funds (ETF). How the authority announced after the US stock market closed, funds that allow investors to invest directly in Bitcoin can now be listed on the stock exchange in the USA. SEC Chairman Gary Gensler spoke of a turning point for the world‘s largest cryptocurrency and the broader crypto industry.
There has been speculation for months that the US Securities and Exchange Commission would take this step. This gave the Bitcoin price a strong boost.