Crypto investors in the United States may soon be able to trade four different Bitcoin ETFs
American investors may soon be able to buy four different ETFs based on the popular cryptocurrency Bitcoin (Image: Executium)American investors may soon be able to buy four different ETFs based on the popular cryptocurrency Bitcoin (Image: Executium)
Instead of putting their money directly into cryptocurrencies, American investors may soon be allowed to invest their money in up to four different Bitcoin ETFs.
While many tech enthusiasts focus on mining all kinds of cryptocurrencies with the help of expensive graphics cards, many investors prefer to simply put their money into crypto coins (from US$4 on Amazon) instead of spending it on overpriced hardware. The crypto business in the United States is booming, but American investors have not been able to put their money into crypto ETFs. This will probably change within the coming weeks.
According to a report by Bloomberg, the Securities and Exchange Commission (SEC) in the U.S. is currently processing the applications of four different Bitcoin ETFs. These exchange traded funds do not put their digital assets directly into BTC, but instead into Bitcoin futures. These Bitcoin ETFs have also been filed under the Investment Company Act from the year 1940, which in simple words results in a better investment protection.
The four new Bitcoin ETFs seem to meet the strict requirements by the SEC, which in the past prevented the approval of such crypto-based ETFs. Therefore the financial experts at Bloomberg expect that said exchange traded funds will be approved. ProShares’ “Bitcoin Strategy ETF” apparently has the best chance to make history by becoming the first US-based crypto ETF. Meanwhile, comparable funds have already been approved on the Canadian and European market.
Disclaimer: This article is for informational purposes only and does not include any kind of investment advice.
Source : Bloomberg,
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