Australian retail interest in Bitcoin increased by 100%, the rise in positive sentiment was skewed heavily by those aged 55 and above.
The United States and Exchange Commission has officially green lit the first regulated spot Bitcoin ETF in the country.
The regulator gave its official approval from applications from several financial exchanges. These include ARK 21Shares, Invesco Galaxy, VanEck, WisdomTree, Fidelity, Valkyrie, BlackRock, Grayscale, Bitwise, Hashdex and Franklin Templeton. The approval will allow the exchanges to list and offer trading for a spot Bitcoin ETF.
This approval marks the first ever exchange-traded product in the country that will give investors exposure to Bitcoin. The concept of the ETF means investors can buy shares in the ETF, which is underpinned by Bitcoin’s price, without directly buying Bitcoin or buying cryptocurrency through another exchange or ATM.
The first step into Bitcoin spot ETFs
“It’s really about is removing any of the last barriers that may have kept people from looking at the space, and now that they can access it, they can access it at what we think is a very attractive price point, we think that it is going to increase the number of people.”