As a result of multiple regulatory filings, we’ll likely see the first Bitcoin exchange-traded fund (ETF) hit the U.S. market soon.
At the end of January, Valkyrie Digital Assets filed an application for approval of a bitcoin ETF with the United States Securities and Exchange Commission (SEC), in hopes of offering the very first bitcoin ETFs in the United States. After filling in Valkyrie, NYDIG followed suit in February.
Then, earlier this month, Cboe Global Markets filed with the SEC to list and trade shares of VanEck’s bitcoin ETF – a product VanEck has been trying to offer for years, despite repeated denials from the DRY. VanEck’s latest Bitcoin product to undergo regulatory review is its VanEck Bitcoin Trust project.
Recently, Purpose Investment listed the first Bitcoin ETF approved by North American regulators and had marked success in its early stages.
As bitcoin gains institutional acceptance, by ticking all the boxes of what makes a credible asset in the process, an ETF that reflects its price could serve as a window for traditional brokerage investors at all levels to gain exposure to the market. bitcoin from their accounts.
As more and more instruments like these continue to emerge, there will be less isolation between cryptocurrencies and traditional financial instruments. This will help investors integrate their digital asset holdings with all the other assets in their portfolios.
Additionally, as Paypal and Robinhood have decided to facilitate cryptocurrency transactions, coupled with the adoption of the Lightning Network as a scaling solution, all fears about Bitcoin’s transaction throughput are a thing of the past.
With all of these improvements to the Bitcoin landscape and the recent rush of regulatory deposits, an American bitcoin ETF looks closer than ever.
