Again and again… and again – New week, new rejection of the DRY. The American financial policeman has once again spoken out against a AND F spot Bitcoin. Fidelity Investments therefore joins the list of those who have failed, which is growing day by day.
The SEC turns off the light and says no to the Bitcoin spot
Decidedly, the Securities and Exchange Commission (DRY) is not not packed to the idea of an exchange-traded fund with direct exposure to bitcoin. Unlike different ETFs future – offering derivative contracts – ETFs exposed to Bitcoin have resolutely not the rating with US regulators. Fidelity and other institutional investors can always take comfort, however, with the new ETF spot Canadian.
Indeed, in the case of an ETF spot, exchange-traded funds are based directly on bitcoin reserves. This therefore requires that the fund responsible for the ETF has “physically” bitcoin. And the SEC is not yet close to crossing the Rubicoin, authorizing the de facto holding of BTC.
Future ETFs are derivative contracts which allow you to bet on the rise or fall on the price of bitcoin. These are indicators that track the performance of the future contract of the Chicago Mercantile Exchange. the whole without direct ownership (or indirect) of the underlying asset.
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SEC Picks Intrigue Bitcoin Investors
For some pretexts still unjustified to date according to the plaintiffs, the SEC opposes any similar project. An attitude that is beginning to irritate some actors and has even pushed Grayscale to step up via its lawyers. There are many candidates and there is no preferential treatment. All are rejected! Among the recent disappointed, VanEck and sky bridge also paid the price just a few days ago. While everyone predicts the year 2022 as the year of regulation, if there is one that would directly benefit the crypto market, this is it.
If the shadow of regulation hangs over the crypto ecosystem, there are many hopeful prospects… and the various ETF proposals. The society ProShares has in fact filed an application forETF based on the metaverse. The American company has already been overtaken by 2 Canadian companies, whose product has been trading since last November. Again, the northern neighbor seems to have a ahead.
After a first decade of existence and growth, Bitcoin and its market will still evolve a lot during the second. This partly involves accepting a AND F spot on the american soil, which is the largest stock exchange in the world. Institutional capital would find a regulated means of exposure (by millions of dollars) to bitcoin, which would benefit the entire crypto market, including Ethereum (ETH) and altcoins.
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