Etf su Bitcoin, l’hacker alla Sec e l’approvazione in Borsa

Countdown for the Bitcoin Etf. The regulating authority of the United States should soon decide whether to approve the first Bitcoin Etf traded on the stock exchange. This is a novelty that could bring the crypto universe closer to the financial mainstream. The regulatory green light has been expected for several months and the price of Bitcoin is soaring with a +70% since October. In anticipation of the approval from the Securities and Exchange Commission (SEC), on Wednesday, January 9th, Bitcoin was traded at $45,280, up from $27,000 in mid-October. The price had fallen to $16,000 in November 2022 after the failure of the cryptocurrency platform FTX. Currently, the SEC has received requests for 11 Bitcoin Etf and the deadline for the approval of the application, submitted by the joint venture including Ark Investments, is on Wednesday, January 10th.

Sec Account Hacked

Throwing the crypto sector into chaos on Tuesday, January 9th, a false tweet from the account of the Securities and Exchange Commission of America, the SEC, claimed that the trading of Bitcoin Etf had been approved. Immediately, the price of Bitcoin skyrocketed, only to plummet when the SEC explained that its X account had actually been hacked.

What to Know About Bitcoin Etf

But why is the interest in Bitcoin Etf so high? Let’s start with the basics. Exchange Traded Funds (Etf) are low-cost managed funds traded on the stock exchange like ordinary stocks. Invented in the United States in the early 1990s, they became popular from 2002 and can be bought and sold throughout the day. They are easily accessible financial instruments for those looking to invest. Since its inception, Bitcoin has required knowledge of cold wallets. In simple terms, these are specialized security devices for holding Bitcoin and cryptocurrencies. Additionally, trading cryptocurrencies requires knowledge of trading platforms. A Bitcoin Etf could open the doors to many new investors who do not want to go through these extra steps. In summary, Wall Street would become an intermediary between investors and cryptocurrencies.

ETF Bitcoin Strategy

It should be noted that the Bitcoin Strategy Etf (BITO) already exists today, launched in 2021, but it holds futures linked to Bitcoin, not the cryptocurrency itself. The new Bitcoin Etf will function similar to that for gold. A classic example is the SPDR Gold Shares Etf (GLD), which allows anyone to invest in gold without having to find a place at home or in the bank to store a bar.

Advantages and Disadvantages

The usefulness of the Bitcoin Etf is the subject of heated debate on the web. Cryptocurrencies like Bitcoin were created as an alternative way to invest and also arise from distrust in the financial system. Cryptocurrencies are appreciated by investors for various reasons: they guarantee anonymity and allow avoidance of traditional channels (and their commissions). Among the detractors of the Bitcoin Etf, there is often mention of the potential fees that will be indicated in the expense report.