SEC Grapples with Approval of Bitcoin Spot ETFs.
SEC Grapples with Approval of Bitcoin Spot ETFs.
The Securities and Exchange Commission (SEC) is currently considering the approval of Bitcoin spot Exchange-Traded Funds (ETFs), with Bloomberg ETF analysts projecting a 75% likelihood of approval by the end of 2023. However, the SEC has only approved future-based Bitcoin ETFs so far, leading to spe...
They really screwed up approving the futures etf, even revoking that is hard and it undercuts their stance. If the futures etf was a disaster somehow it would help, but it's been too quiet.
Essentially, a Bitcoin spot ETF is a type of investment fund that aims to track the price of Bitcoin directly. Unlike futures-based ETFs, which derive value from contracts speculating on future Bitcoin prices, spot ETFs seek to hold actual Bitcoin. This would allow investors to buy and sell shares of the ETF on an exchange, exposing them to Bitcoin's price movements without actually needing to purchase and store Bitcoins themselves.
In case, like me, you had no idea what a spot ETF was.
I did, but traditionally futures trading is considered 'sketchier' than actual underlying equities/commodities trading.
This feels backwards.