Since 2013, the US Securities and Exchange Commission (SEC) has consistently rejected multiple applications to create these publicly traded funds that replicate the price of Bitcoin.
But the regulator could approve the launch of these products next week. On its Twitter account, the SEC wrote Thursday night: “Before investing in a fund that has futures contracts on Bitcoin, make sure you have weighed the risks and the benefits.”
“This is a key moment for cryptocurrencies,” said Walid Koudmani, an analyst at XTB. “In the long term, this is important news, as it indicates that the authorities are accepting the idea of people owning crypto assets. “told Charlie Erith, head of cryptocurrency manager ByteTree Asset Management.
The SEC however is contradictory as it has described the cryptocurrency sector as the “Old West” on several occasions., and across the Atlantic, Bank of England (BoE) Deputy Governor Jon Cunliffe said there is an “urgent need” to work on international regulation.
Although the British institution does not see at the moment a greater risk that a cryptocurrency crisis spreads to the rest of the market, it noted that, with a size of more than 2.3 trillion dollars, the market is now larger than the subprime market in 2008 ($ 1.2 trillion), whose collapse triggered a global financial crisis.
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
