Several so-called bitcoin funds have now been approved and can be traded on exchanges.
Photo: DADO RUVIC / Reuters / NTBPublisert:
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The US Financial Supervisory Authority (SEC) wrote on Thursday evening that it had approved the much-talked about Bitcoin products.
This means that bitcoin ETF bitcoin ETF An exchange-traded fund (ETF) is a collection of securities. ETFs trade on stock exchanges, just like stocks, but can now be listed and traded on Wall Street. An ETF is a collection of securities that can be traded in the same way as stocks.
On Tuesday there was total confusion when SEC (formerly Twitter) account X posted a message saying that bitcoin ETFs had been approved.
– Bitcoin being recognized as a mainstream investment on a large scale is a huge milestone, says CEO Jad Comair of Melanion Capitol, according to the Financial Times. They are the first company to create bitcoin-focused ETFs in the EU.
– Now we are opening the doors to Wall Street, he says.
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Shortly thereafter, SEC chief Gary Gensler denied the report, saying that Account X was compromised.
The bitcoin exchange rate had a big impact on Tuesday, but after Wednesday’s confirmation it is relatively stable.
One bitcoin today costs 45,553 dollars, or almost half a million crowns.
Twins Tyler and Cameron Winklevoss have long been supporters of cryptocurrency. They are also known to have claimed that it was they and not Mark Zuckerberg who came up with the idea for Facebook. Photo: Richard Drew/AP/NTB
A total of eleven funds have received approval, Bloomberg writes.
According to the Financial Times, the first ETF funds should be available for trading on Wall Street as early as Thursday.
The SEC has been a staunch opponent of cryptocurrency for years, but has succumbed to pressure.
According to Bloomberg, Tyler and Cameron Winklewoss proposed bitcoin ETFs back in 2013. They were rejected at the time.
Bitcoin has risen steadily through 2023, largely due to ongoing speculation about ETF approvals.
2024-01-10 21:32:09
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