After several regulatory records, we are likely to see the first bitcoin traded fund (ETF) hit the market in the United States soon.
In late January, Valkyrie Digital Assets filed for approval of a bitcoin ETF with the United States Securities and Exchange Commission (SEC), hoping to offer the first bitcoin ETFs in the United States. After filling Valkyrie, NYDIG did the same in February.
Then, earlier this month, Cboe Global Markets submitted a document to the SEC to list and trade shares of VanEck’s bitcoin ETF – a product that VanEck has been trying to offer for years, despite repeated SEC rejections. VanEck’s latest bitcoin product under regulatory review is its proposed VanEck Bitcoin Trust.
Recently, Purpose Investment listed the first Bitcoin ETF approved by US regulators and had a marked success in its early days.
As bitcoin gains more institutional acceptance, ticking all the boxes of what makes it a reliable asset in the process, an ETF that mirrors its price could serve as a window for traditional brokerage investors across the board to gain exposure to their company’s bitcoin. accounts.
As more instruments like these continue to emerge, there will be less isolation between cryptocurrencies and legacy financial instruments. This will help investors to integrate their digital assets with all other assets in their portfolios.
In addition, as companies like Paypal and Robinhood move to facilitate cryptocurrency transactions, coupled with the adoption of the Lightning Network as a scale solution, all fears about the transfer rate of bitcoin transactions are becoming things of the past. past.
With all these improvements in the Bitcoin landscape and the wave of recent regulatory records, a U.S. bitcoin ETF looks closer than ever.