Gary Gensler’s Bitcoin ETF Clown Show
From hacks to unnecessary delays to ungracious statements, the SEC chair has made few friends as he finally approves these in-demand BTC products for the first time.
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Bitcoin ETF
From hacks to unnecessary delays to ungracious statements, the SEC chair has made few friends as he finally approves these in-demand BTC products for the first time.
Bitcoin ETFs provide traditional investors with a regulated investment vehicle that enables them to invest in Bitcoin without having to directly own the underlying cryptocurrency.
Vanguard, one of the largest asset managers in the world, is preventing customers from buying the newly approved bitcoin ETFs.
ARK Invest’s CEO previously predicted the price to reach $1 million by 2030.
They make the asset class “less of a scary concept” to mainstream audiences, bitcoin advocate Jameson Lopp said.
The U.S. listing of ETFs based on spot BTC is more than a milestone for Bitcoin. Noelle Acheson points out that it is also a milestone for Wall Street.
Bitcoin hit its highest price in more than two years Thursday before it fell back to $46,000 as the highly anticipated spot bitcoin ETF debut unleashed volatility.
The fund saw about $400 million of inflows within 30 minutes of its trading debut, CF Benchmarks said.
The crypto exchange has a dominant role in all but one of the approved ETFs, acting as an issuer or custodian, the report said.
Grayscale received the regulatory green light to convert its flagship product into an ETF on Wednesday.