Crypto

Bitcoin, racing higher for hopes of listing on the US stock market!

The Bitcoin logo appears on the screen of a cryptocurrency ATM in Salem, United States.

Bitcoin, the strongest cryptocurrency in the world, increased 4.6% and is around $ 60,000 after it was learned that the United States Securities and Exchange Commission could authorize the first exchange-traded bitcoin futures fund in history.

An economic revolution. Investors in crypto assets have been waiting for months for the first US ETF exchange-traded fund for bitcoin, a move that could redefine the bet on cryptocurrencies and benefit the biggest player: Bitcoin.

Rumors that next week the United States Securities and Exchange Commission (SEC) is prepared to allow the first bitcoin futures ETF, caused its value to grow 4.5% to its highest level since May this year .

Bitcoin reached 60,071 this Friday, but its growth and recovery has been vertigo in recent weeks with annual losses of 74% to gains of 305%.

“ETFs open up a number of avenues for people to gain exposure and there will be rapid movement towards these structures,” said Charles Hayter, CEO of data firm CryptoCompare.

Sources from ‘Bloomberg’ assured that the products would be available from next week. This approval “reduces friction for investors to gain exposure and gives traditional funds room to use the asset for diversification purposes,” Hayter said.

Bitcoin

Several fund managers such as VanEck Bitcoin Trust, ProShares, Invesco, Valkyrie and Galaxy Digital Funds, asked to launch a bitcoin ETF to the US authorities. This step would be “one of the final frontiers for mandated access,” according to Joseph Edwards, head of research at crypto broker Enigma Securities.

Gary Gensler, the SEC chairman has said before that the market involves many tokens that may be unregistered securities and leaves prices open to manipulation and millions of investors vulnerable to risk.

John R. Zepeda

I have extensive experience working as a content writer in the areas of cryptocurrencies and finance, where I create interesting pieces that both inform and engage their audiences.

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