SEClast January spot Bitcoin ETFBy approving both BTC as well as cryptocurrencyHe took an important step for the It is stated that spot ETFs are a turning point in BTC’s wider acceptance and greater inclusion in main investment portfolios.
While spot BTC ETFs have attracted great attention since then, a new evaluation of spot BTC ETFs came from Ripple.
Ripple highlighted the critical role of custodians in managing ETFs in a recent article.
Pointing out that ETFs are of great importance in terms of compliance, ensuring investor access and safe storage of Bitcoin, Ripple explained some important areas that custody institutions should focus on for the ETF.
At this point, Ripple allows custody institutions to BitcoinIt should use strong key management practices, multi-signature wallets, cold storage for offline assets, and encryption to help protect users from theft and cyberattacks, he said.
Ripple also allows custodians to “Know Your Customer (KYC) and anti-money laundering (AML)He also stated that he must comply with regulations such as the rules.
Ripple was last included in the SEC’s spot Bitcoin ETFHe also made explanations about why he approved the . At this point, Ripple emphasized that the SEC approved spot Bitcoin ETFs for mainstream cryptocurrency integration and that the SEC’s approval of spot Bitcoin ETFs is an important step in the acceptance of cryptocurrencies.
Currently the largest cryptocurrency exchange in the USA coinbaseserves as the custodian of eight of the 11 Bitcoin ETFs launched in January. Among these ETFs BlackRock’s IBIT, Ark Invest’s ARKB, Bitwise’s BITB and Grayscale’s Bitcoin Trust GBTCIt includes .
Using an enterprise-grade digital asset custody provider is crucial for ensuring the safety, security, and accessibility of cryptocurrencies and tokenized assets.
Learn about the key considerations for spot bitcoin ETFs and why secure custody matters. https://t.co/iqlEJXmrxH
— Ripple (@Ripple) April 25, 2024
*This is not investment advice.
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