SEC approves first spot bitcoin: ETFs in boost to crypto advocates 2024 This is a great news that will give a good success to traders in bitcoin or stock market or shares.
The U.S. Securities and Exchange Commission (SEC) on Wednesday approved the first spot bitcoin exchange-traded funds (ETFs), a landmark decision that could pave the way for more mainstream investment in cryptocurrencies.
The two ETFs, ProShares Bitcoin Strategy ETF (BITO) and Valkyrie Bitcoin Strategy ETF (BTF), will track the price of bitcoin and allow investors to buy and sell shares on major U.S. exchanges.
The approval of the ETFs is a major victory for crypto advocates, who have long argued that bitcoin and other cryptocurrencies should be regulated like other assets. The ETFs are expected to attract billions of dollars in investment and could help to legitimize the cryptocurrency market.
However, some experts have warned that the ETFs could also increase volatility in the bitcoin market. The ETFs will be based on futures contracts, which are agreements to buy or sell bitcoin at a predetermined price in the future. This means that the ETFs will be exposed to the risk of changes in the futures market, which can be volatile.
Overall, the approval of the ETFs is a positive development for the cryptocurrency market. The ETFs are expected to attract more institutional investors and could help to legitimize the market. However, investors should be aware of the risks associated with the ETFs, including the risk of volatility
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SEC approves first spot bitcoin: Here are some additional details about the ETFs
SEC approves first spot bitcoin: ProShares Bitcoin Strategy ETF (BITO)
This ETF will track the price of bitcoin through a futures contract. Futures contracts are agreements to buy or sell an asset at a specified price on a specified date in the future.
* Valkyrie Bitcoin Strategy ETF (BTF): This ETF will track the price of bitcoin through a trust. A trust is a legal entity that holds assets on behalf of investors.
* Both ETFs will be listed on the New York Stock Exchange.
* The ETFs are expected to start trading on Thursday.
* The ETFs are expected to attract billions of dollars in investment.
* The ETFs could help to legitimize the cryptocurrency market.
* The ETFs could also increase volatility in the bitcoin market.
Note; The US Securities and Exchange Commission has approved the first spot bitcoin exchange traded funds in a watershed moment that cryptocurrency enthusiasts are betting will draw new retail and institutional investors into the market. Here is what you need to know: News Zola
