A very important and significant event for the world of cryptocurrency happened yesterday. The United States Securities and Exchange Commission (SEC) has approved the country’s first ETF (Exchange Traded Fund) based on bitcoin futures.
Already on October 18, ProShares Bitcoin Strategy ETF will start trading on the exchange. A Bloomberg analyst previously stated that this ETF will have a BITO ticket. This solution allows those who wish to work with bitcoin or cryptocurrency in general without the need to directly own it. In simple terms, such an ETF is an asset that is traded on the open market, like a stock, and is open to investors. Previously, the SEC did not approve such applications, but the cryptocurrency is becoming more and more firmly in the world, so the time has come for such decisions.
In addition, three more similar ETFs may receive approval in the near future: Invesco Bitcoin Strategy ETF, VanEck Bitcoin Strategy ETF and Valkyrie Bitcoin Strategy ETF.
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