A blog written by Vanessa Malone highlights the recent granting of approval by the U.S. Securities and Exchange Commission for the first-ever U.S.-listed exchange-traded funds (“ETFs”) designed to track the performance of bitcoin. The development is widely regarded within the industry as a significant and pivotal moment for the cryptocurrency and greater blockchain sector. The piece describes ETFs as publicly traded investment vehicles that track the value of an underlying asset. Spot bitcoin ETFs are described as investment vehicles that provide ordinary investors exposure to the price moves of bitcoin from their regular brokerage accounts.
“The purpose of this kind of ETF is to mirror the price of bitcoins in the crypto market so investors can get exposure to bitcoin without going through the process of opening an account on a crypto exchange, creating a digital wallet, connecting the two, and holding their own crypto… The recent approval of bitcoin ETFs marks a significant milestone in the cryptocurrency landscape, ushering in a new era of more regulatory clarity… According to an interview from CNBC with Coinbase CEO, Brian Armstrong, 52 million Americans already use crypto. This is despite the barriers to entry, which include the complexities of crypto exchanges, digital wallets and private keys, which can be intimidating to some. A bitcoin ETF removes some of these barriers, bringing digital currency to both retail investors and institutions who can gain exposure to this asset class through traditional brokerage accounts. As also stated by Armstrong in the CNBC interview, this move is expected to inject significant liquidity into the sector,” Malone writes.
“As a smart-contract powered market and trading app, Upstream finds the news very promising. This development not only provides investors with a more accessible avenue to participate in the crypto market but also has broader implications for the adoption of blockchain technology. With clearer regulations in place, market participants may find themselves more comfortable exploring the benefits of smart-contract powered applications. The trust instilled by the approval of bitcoin ETFs could lead to increased confidence in utilizing blockchain-powered markets, such as Upstream, where the benefits of decentralized technology are harnessed to create a more seamless and secure securities trading experience for issuers and investors.”
To view the full blog, visit https://ibn.fm/ceOcg
Upstream, a MERJ Exchange market (https://merj.exchange), is a global securities trading app. Powered by a proprietary, transparency first, matching engine, Upstream allows investors outside of the U.S. to trade securities using just an app. For more information, please visit https://upstream.exchange.
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