Many so-called Bitcoin funds have now been approved and can be traded on the exchange.
The issue is updated
The US Financial Regulatory Commission (SEC) wrote on Thursday evening that it had approved much of the talk about Bitcoin products.
This means that Bitcoin ETFs Bitcoin ETFs An exchange-traded fund (ETF) is a collection of securities. ETFs are traded in the same way as stocks.It can now be listed and traded on Wall Street. An exchange-traded fund (ETF) is a collection of securities that can be traded in the same way as stocks.
On Tuesday, there was complete confusion when the SEC's X account (formerly Twitter) posted a message in which they wrote that Bitcoin ETFs had been approved.
– It is a major achievement that Bitcoin is recognized as a widespread traditional investment, says CEO Jad Comer of Melanion Capitol, according to the Financial Times. It is the first company to create Bitcoin-focused ETFs in the European Union.
“We are now opening the doors to Wall Street,” he says.
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Shortly after, SEC Chairman Gary Gensler refuted the report, saying that X's account had been hacked.
The Bitcoin exchange rate had a big impact on Tuesday, but after confirmation on Wednesday, it became relatively stable.
Bitcoin now costs $45,553, or roughly half a million kroner.
A total of eleven funds received approval, Bloomberg wrote.
According to the Financial Times, the first ETFs are expected to be available for trading on Wall Street as early as Thursday.
The Securities and Exchange Commission (SEC) has been a vocal opponent of cryptocurrencies for years, but has bowed to pressure.
According to Bloomberg, Tyler and Cameron Winkelius proposed Bitcoin ETFs as early as 2013. At the time, they were rejected.
Bitcoin has risen steadily through 2023, largely due to continued speculation that ETFs will eventually be approved.
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