Just In: SEC Approves Bitcoin ETF, Opening Crypto to Wider Investor Base
Bitcoin broke the $60,000 ceiling this morning, and is currently trading at $61,355.98 as the rally accelerates.
Likewise GBITS broke the $200 Key resistance mark and is currently trading at $216.04236.
After yrs of trial and error by would-be fund sponsors, cryptocurrency investing is finally opening up to the masses with the 1st US approval of a bitcoin ETF (exchange-traded fund).
The Securities and Exchange Commission (SEC) greenlighted bitcoin futures ETFs in a first for the industry Friday, after the regulator’s five commissioners met on the issue.
ProShares, which filed for its Bitcoin Strategy ETF this past Summer, may be the 1st to launch next wk.
The company filed a post-effective amended prospectus on 15 October stating its filing is expected to launch Monday, 18 October though the fund may not begin trading immediately.
Industry participants have long sought to launch a bitcoin ETF, with Gemini founders Tyler and Cameron Winklevoss first seeking an ETF in Y 2013. The SEC has rejected every previous application to date, and still has yet to weigh in on more than 30 other current applications.
Have a healthy prosperous weekend, Keep the Faith!