Date: 2023-06-30T16:01:51Z Creator: Bitfolio Academy
A Bitcoin Spot ETF might be closer than you think. Fidelity filed yesterday! BlockRock, Fidelity, Ark Invest, WisdomTree and Invesco all think that they have found the “magic sauce” to a Bitcoin spot ETF approval! What is this groundbreaking advancement? Surveillance sharing agreements with US-based platforms, like Coinbase, where the exchange would guarantee access to trading data.
BlackRock has an incredible record with the SEC with only one ETF application denial back in 2014.
Bitcoin spot ETFs have already been approved in Canada and Australia, but not yet in the US. If approved, these ETFs would bridge the gap between the crypto-world and institutional investors, resulting in unprecedented infusions of institutional money into the cryptocurrency space. We can only hope that these financial giants have found the magic sauce!
Let me know in the comments. 🤔
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