Companies planning to launch a Bitcoin ETF have passed an important stage on the way to approval of documents by the SEC. Bloomberg reports this.
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Insides from SEC
According to the publication, several companies that applied to launch a Bitcoin ETF received positive results. The US Securities and Exchange Commission (SEC) should approve them in the coming days.
As Bloomberg reports with a link to sources in the SEC, the Commission asked these companies to urgently provide final versions of documents for which they no longer have questions.
Which companies submitted applications
Trading Bitcoin on the stock market market is desired by many companies. Already submitted documents:
- BlackRock VanEck Valkyrie Fidelity
Pending
The crypto market is eagerly awaiting the SEC's decision on the approval of the Bitcoin ETF. It was on these expectations that the recent rise of Bitcoin to $45 thousand occurred. If a positive decision is made, the price of the first cryptocurrency will soar, followed by other coins.
Bitcoin ETF, according to experts, will attract huge investments, which will be definitely positively assessed by traders.
Decisions on the first Bitcoin ETFs are expected before January 10 or within a month.
Earlier, the Ministry of Finance wrote that issuers are trying to get approval for Bitcoin ETFs already 10 years, but as Bloomberg sources note, there is now a high probability that the SEC will finally approve the applications.
What is a Bitcoin ETF
In simple terms, it is an opportunity to buy shares that tied to Bitcoin. Investors will not purchase the cryptocurrency itself, but will simply become holders of an ETF through a brokerage account. And the fund, in turn, manages funds by buying and selling bitcoin.
There are many ETFs on the stock market that include securities based on an index, sector, commodity or other asset. Investors often buy such shares because they believe that the risks in such investments are lower.