For those interested in the intersection of
cryptocurrency and traditional finance, a significant milestone was recently achieved. The question on many investors' minds is: When did bitcoin ETFs get approved by the SEC? The Securities and Exchange Commission, widely known as the SEC, is a regulatory body that oversees the US financial markets. An ETF, or Exchange Traded Fund, is a type of investment product that allows investors to buy and sell shares in a portfolio of assets, often including stocks, bonds, or commodities. The approval of bitcoin ETFs marks a significant step in the integration of cryptocurrency into the traditional financial system, as it provides investors with a more accessible and regulated way to invest in bitcoin. But the precise timeline of this approval remains a matter of curiosity for many.
7 answers
Dario
Fri Jul 12 2024
In the year 2013, the journey towards the legitimization of cryptocurrency-based financial products commenced.
EchoSolitude
Thu Jul 11 2024
Nonetheless, the push for cryptocurrency-based financial products persisted, and in 2021, the SEC began approving bitcoin ETFs that were based on futures products.
CryptoTitaness
Thu Jul 11 2024
An entity closely associated with the Winklevoss twins, renowned entrepreneurs and early bitcoin investors, submitted the initial application for a bitcoin exchange-traded fund (ETF) to the U.S. Securities and Exchange Commission (SEC).
Giulia
Thu Jul 11 2024
This shift in approach marked a significant milestone in the evolution of cryptocurrency within the traditional financial ecosystem.
SumoHonorable
Thu Jul 11 2024
With the approval of futures-based bitcoin ETFs, investors gained access to a regulated and more accessible way to invest in bitcoin without directly owning the underlying cryptocurrency.