In the United States, like everywhere else, many tech enthusiasts focus on the mining business. As a result, with heavy investments, they purchase several pieces of equipment, including very expensive graphics cards. In addition, others prefer to adopt a simpler method: placing money in cryptocurrencies. It is to meet their expectations that the country wants to acquire 4 Bitcoin ETFs (BTC).
4 new Bitcoin ETFs
Cryptocurrencies are no longer just a phenomenon in the US financial landscape. They are well established there, and have been for a few years now. While many people use them for the purpose of mining , others simply prefer to agree to make investments using fiat currency . Problem, until now, many US investors who choose the second option did not have practical ways to invest money. Well, the situation is about to change… for the better.
Indeed, a Bloomberg report reveals that the United States Securities and Exchange Commission (SEC) is currently handling requests for 4 different Bitcoin ETFs (BTC). The special thing about these exchange traded funds is that they do not directly place digital assets in BTC. Instead, they place them in futures on the Bitcoin (BTC).
On the other hand, it should be noted that the Bitcoin ETFs in question were filed under the Investment Companies Act of the year 1940. Therefore, they offer a better level of protection to investors.
Will funds be accepted?
Will the SEC accept the request for the 4 new Bitcoin ETFs? If everything goes as planned, yes! Indeed, according to the noise of the corridors, the 4 Bitcoin ETFs meet the strict requirements defined by the institution. Recall that in the past, the latter had prevented the approval of such ETFs based on cryptocurrency.
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The financial industry professionals to Bloomberg believe that exchange traded funds are likely to be accepted by the authority. But of all these funds, there is one that apparently has more chances. This is the ProShares Strategy ETF . It could be the first ETF based in the United States. Of course, this remains to be confirmed over time. For information, on the Canadian and European market, comparable funds have already been accepted.
The United States could have four new Bitcoin ETFs (BTC) in the coming days if all goes well. Indeed, requests have already been made and filed with the Securities and Exchange Commission (SEC), whose mission is to rule on the admissibility or otherwise of each request. If the requests are accepted, Americans will be able to invest in Bitcoin (BTC) and other cryptocurrencies without necessarily mining , which is expensive.
