Positive development is underway for the two most important cryptocurrencies on the market.Approval of a new exchange-traded fund (ETF) backed by Bitcoin (BTC) futures Securities and Exchange Commission The US (SEC) has expressed expectations that Spot Bitcoin ETFs may follow.In addition, investment banks Goldman Sachs Extend over-the-counter (OTC) crypto options trading offerings to contracts based on Native Ethereum Tokens.
Bitcoin Spot ETF Case Study
Community discussions on how the SEC will handle new applications for Spot Bitcoin ETFsTeucrium Bitcoin Futures ETF Last Wednesday.
according to Eric BaltunasBloomberg’s senior ETF analyst, approval, is a “good sign of spot ETFs” given that the application was submitted under the so-called ’33 law, and considers the SEC not to provide sufficient protection to investors. It’s a rule.
Spot Bitcoin ETFs refer to ETFs based on actual Bitcoin rather than futures contracts, the latter often referred to as “paper Bitcoin”.
Analyze the decision in more detail and Michael SonnenshainCEO of Digital Asset Manager Grayscale investmentHave declaration Last week, the SEC cited a different set of criteria under Bill 33 and Bill 40 to reject Spot Bitcoin ETFs.
With the approval of Teucrium under Bill 33, these discussions used by the SEC are now “significantly weakened,” Sonnenshein argued on Twitter, adding:
“Therefore, if the SEC is happy with the Bitcoin Futures ETF, then it must be happy with the Spot Bitcoin ETF.”
He then reminded his followers that Grayscale’s own application to convert Grayscale Bitcoin Trusts to ETFs was registered under Law 33.
“This is a debate that Grayscale has made since submitting an application to convert GBTCs to Spot Bitcoin ETFs, and today that debate is even stronger. Congratulations to the Teucrium ETF,” writes Sonnenshein. I am.
Goldman Sachs is growing its crypto options business
Meanwhile, investment bank Goldman Sachs said earlier this week that it plans to expand its current over-the-counter (OTC) Bitcoin options to Ethereum-based option contracts.
These comments are Andrey KazantsevAccording to Bloomberg, Goldman Sachs’ global head of crypto trading will launch an ETH option for cash settlement “in due course” at a webinar for clients.
George Lewin SmithA partner in the bank’s digital asset team, said in the same webinar, conversations with clients are increasingly focused on ETH investments. According to a Bloomberg article, the second cryptocurrency is considered by Goldman’s clients to be an “easy-to-invest asset class.”
Comment on this investment banking initiative and Paolo AldoinoChief Technology Officer of Cryptographic Exchange BitfinexSaid that the institutional adoption of various digital token products is “unavoidable”.
Ardoino said in a comment shared with Cryptonews.com It,
“Goldman’s decision to offer over-the-counter options in Bitcoin and Ethereum is probably a response to huge demand from investors looking at the potential of cryptocurrencies.”
“Some of Bitcoin’s loudest critics have little technical proficiency in blockchain applications, but smart money is mercilessly moving into this area,” said Bitfinex’s CTO. I conclude.
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