The Bitcoin ETF seems to have opened up the market perspective. This is going on…
Since the Bitcoin ETF introduction last week, the sentiment of trading cryptocurrencies seems to have changed. New trading possibilities are being launched and regulators seem to be more positive. An overview of today’s developments.
Valkyrie continues exploring Bitcoin ETF’s with new trading option
Valkyrie was the second Bitcoin ETF that got a listing on a US stock exchange. The success of the BTC ETF’s has opened the way for more ETF-based trading options. Today Valkyrie issued an SEC filing for introducing a Bitcoin leveraged ETF.
The difference between a regular Bitcoin ETF and a leveraged ETF is that the leveraged ETF allows you to invest only the margin costs accompanied to the ETF instead of the full ETF price. In the near future we will explain more about leverage and margin trading. According to the filing the filing has to be completed so there is no fixed date to market yet. Of course the ETF is a new investing opportunity which raises questions. We have aligned the Bitcoin ETF questions and answers here to give you an insight.
The trading environment and approach in trading crypto seems to have changed since the introduction of the Bitcoin ETF. The changing view US regulators seems to have on BTC and crypto is illustrative.
US Regulators want to approve crypto custody services for banking industry
Until now regulators were quit negative about the risks involving trading in Bitcoin and cryptocurrencies. Not so long ago crypto investors were considering whether regulators could and would ban Bitcoin and other crypto in the US.
However, regulators’ opinion seems to have changed. Today an interview with FDIC Chairman Jelena McWilliams was issued. In the interview she states that US Regulators are in favor of banks to allow crypto custody services for their customers. This opinion is partly based on the notice of growing interest and requests from the industry. There is also a concern that if regulators don’t cooperate there might be a regulated trading facility outside regulators influence and that’s an undesired situation for controlling authorities.
McWilliams explains that the volatility of Bitcoin and other crypto causes challenges to initiate regulation regarding regulation of the valuation of banks’ crypto holdings. However, a solution seems to be in the making. Once that solution is proved and tested regulators seem to be ready to move forward with pro-active regulation to stimulate crypto adoption.
You can read the full interview at Reuters.
Despite this positive news the Bitcoin price is slightly down at this moment. At a price of $ 62,123.- the rate has dropped 1.07% in 24 hours.
Are you curious about the BTC and other live crypto prices?
Note: We never provide financial advice, so you can’t interpret our contributions that way. Always do your own research and make rational decisions about whether, when, in what and how much you want to invest.
