The ETF approval that Bitcoin investors have been waiting for a long time has finally arrived. For the first time, the US Securities and Exchange Commission (SEC) has approved a cryptocurrency to be traded on the stock exchange through an ETF. Accordingly, the US stock exchange will offer 11 spot Bitcoin ETFs to investors.
Will Bitcoin price break records after SEC ETF approval?
Bitcoin investors have long been waiting for the SEC to approve the Bitcoin ETF. At first, the news that the ETF would not be approved caused fluctuations in the Bitcoin price. However, positive news in recent months caused Bitcoin to reach the 50 thousand mark again.
Despite this positive development, SEC Chairman Gary Gensler underlined that the decision does not mean approving Bitcoin. In this sense, Gensler also warned cryptocurrency investors against risks. But the SEC has rejected every attempt at a Bitcon ETF for a decade. In this sense, the SEC Chairman insists that this decision does not mean approving Bitcoin.
Bitcoin price has not yet reacted greatly to this decision. Bitcoin price, which shot up to 40 thousand dollars during the day, is currently around 46 thousand dollars. Bitcoin currently has a price of 1,391,956.20 in TL terms. Since the price of the dollar fluctuates, this price is valid for the time the news was written.
Bitcoin fell hard! Has the expected fix arrived?
This new Bitcoin investment tool will enable people to become Bitcoin investors without investing in cryptocurrency exchanges in the US. Companies that launch these Bitcoin-based ETFs must purchase the same amount of Bitcoin. Currently, 11 companies have received approval for the Bitcoin ETF investment vehicle.
Experts think that with this decision, traditional companies that stay away from crypto can also become Bitcoin investors. In this way, it is expected that the price of Bitcoin will increase in the long term, although not in the short term.
A court decision lies behind the SEC’s decision. The SEC, which rejected all Bitcoin ETF applications, gave up this stubbornness after the court decision in April. Accordingly, the court deemed the SEC’s decision arbitrary and capricious.
What levels do you think the Bitcoin price will reach after the Bitcoin ETF approval by the SEC? We are waiting your comments. What is written in this news is for informational purposes only and is not investment advice.
