Despite the enormous growth of cryptocurrencies over the years, the fact of having to operate on an exchange like Binance or Coinbase for example and store cryptocurrencies in wallets has formed the opinion that investing in cryptocurrencies is a complicated process because it does not say something risky.
To solve this problem in 2021 in Canada and the United States, the first ETFs have been approved, generating a new investment possibility, but we are going to consider what we understand by an ETF as its acronym in English says it is an exchange or Exchange-traded funds make it possible to replicate the price variation of one or several underlying products, allowing investors to achieve economic profits without the need to invest in them directly.
That is, we can take advantage of bitcoin price fluctuations without having to commit to an exchange wallet. This is the importance of SEC approval for different bitcoin ETFs to be launched in the country. It focuses on the fact that now you can invest in this cryptocurrency with a regulated market without the need to buy it. For this reason, bitcoin ETFs do not mean a substantial change to those who usually hold digital currencies in their wallets.
But they do facilitate the entry for new people to earn with bitcoin and are undoubtedly an important milestone on the path to positioning itself as a real alternative to money fiat and other investment assets this year the news of the probable approval of bitcoin etfs caused a lot of excitement in the crypto environment.
The Blackrock ETF is the strongest since blackrock is the largest investment fund on the planet and has fueled interest in create the first ETF exchange traded fund bitcoin in spot format the giant's streak financial institution with 575 ETFs approved and only one denied by the SEC has fueled interest in apply for bitcoin etf.
But let's first look at the statements from blackrock which said that the asset manager must democratize access to investments while comparing bitcoin ETFs with the arrival of gold ETFs according to blackrock's foray into crypto aligns with its goal of developing investment products cost-effective and easy to use.
He also noted that cryptocurrency investments could diversify an investor's portfolio. He also added that the asset class has seen increased demand from its global clients. Cryptocurrency has a differentiating value compared to other asset classes but more importantly due to that are international is going to transcend any currency in recent years.
The doubt in approving an etf in spot bitcoin regulator attributes his decision to his inability to prevent fraudulent and manipulative practices however market observers have suggested that blackrock's exceptional track record with etf applications makes it the favorite to overcome the historic hurdles presented by the SEC .
Let us remember that on July 16, 2023, the SEC approved the application for the Blackrock ETF for review and during 2023, more companies requested their own ETFs and we are only 3 days away from hearing the great news that will undoubtedly shake the market crypto.
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