The SEC announced that it has approved ETF transactions for Bitcoin. Thus, trading funds for Bitcoin futures became legal.
The United States Securities and Exchange Commission (SEC) recently published a statement on its official website for Bitcoin, the world’s most popular cryptocurrency. Approves ETF transactions he explained.
Immediately after the announcement, the Chicago Options Exchange (CBOE), the largest options exchange in the USA, announced that it will launch ETF transactions for Bitcoin starting tomorrow. Like this Fund trading in Bitcoin futures It became legal.
So, what does the start of ETF transactions for Bitcoin, that is, fund trading, mean?
Currently, to make any transaction with Bitcoin, you had to directly own Bitcoin. SEC’s ETFUpon approval, CBOE will open one or more spot Bitcoin exchange-traded funds for trading. Thus, it will be possible to carry out transactions with Bitcoin-related investment products without purchasing Bitcoin directly.
Investors, now instead of buying Bitcoin directly They will be able to invest in these funds. Bitcoin ETFs approved by the SEC are as follows:
- BlackRock
- Ark Invest
- Grayscale
- VanEck
- Bitwise
- Fidelity
- hashdex
- WisdomTree
- Invesco Galaxy
- franklin
- Valkyrie
Why did the SEC approve Bitcoin funds out of the blue?
In fact, it is difficult to say that everything happened out of the blue. The industry has already been waiting for the SEC to approve Bitcoin ETFs for some time. In fact, this is the reason why Bitcoin increased its value to 47 thousand dollars. of Bitcoin possibility of being traded on mainstream financial marketsinvestors began to increase their interest in Bitcoin again.
With this decision, there is a possibility that Bitcoin will increase its value again. However, the SEC stated in its article that it approved ETFs that Bitcoin is extremely a speculative investment tool It clearly underlines that Therefore, reading the news and saying “Bitcoin will flyWe definitely do not recommend you to invest all your wealth in Bitcoin.
You can find the SEC’s full statement on the subject here.