After multiple regulatory filings, we are likely to see the first bitcoin exchange-traded fund (ETF) in the United States soon.
In late January, Valkyrie Digital Assets filed for approval of a bitcoin ETF with the U.S. Securities and Exchange Commission (SEC), hoping to offer the first bitcoin ETFs in the United States. Following the Valkyrie fill, NYDIG followed suit in February.
Then earlier this month, Cboe Global Markets filed with the SEC to list and trade shares of VanEck’s bitcoin ETF, a product that VanEck has been trying to offer for years, despite repeated rejections from the SEC. VanEck’s latest bitcoin product under regulatory review is its proposed VanEck Bitcoin Trust.
Purpose Investment recently listed the first Bitcoin ETF approved by North American regulators and was markedly successful in its early days.
As bitcoin gains more institutional acceptance, ticking all the boxes of what makes an asset credible in the process, an ETF that reflects its price could serve as a window for traditional brokerage investors across the board to gain exposure. to bitcoin from your accounts.
As more instruments like these continue to emerge, there will be less isolation between cryptocurrencies and legacy financial instruments. This will help investors integrate their digital asset holdings alongside all other assets in their portfolios.
Furthermore, as Paypal and Robinhood move to facilitate cryptocurrency transactions along with adopting the Lightning Network as a solution for scaling, all fears about the performance of bitcoin transactions are becoming a thing of the past.
With all these improvements to the Bitcoin landscape and the flood of recent regulatory filings, a US bitcoin ETF seems closer than ever.