Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
While NYSE Arca y Teucrium join the group of companies that operate a ETF an Exchange-traded Fund, an investment fund that users trade on exchanges and trading platforms. futures a futures contract is a standardized legal agreement to buy or sell a particular commodity or asset at a predetermined price at a specified time in the future. of Bitcoin, still remains a question as to when the time will come for the SEC approve a proper one based on digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currency.
La U.S. Securities and Exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. Commission (SEC) aceptó formalmente la solicitud introducida por NYSE Arca y Teucrium for the issuance of an exchange-traded fund (ETF) based on futures of Bitcoin.
SEC approves ETF futures of Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. submitted by NYSE Arca and Teucrium
The announcement was made by the SEC in a statement published today through its website, in which it indicated that Teucrium is now listed among the group of companies issuing a ETF associated with futures of Bitcoin, This since the regulator approved the first of its kind in October last year following a change change — a concept relevant to cryptocurrencies that use the UTXO model — is the number of coins sent back to a user after they use their unspent outputs to initiate a transaction. in its outlook on the issue.
As such, Teucrium y NYSE Arca submitted the application to the SEC last year, this is in accordance with the provisions of the Ley of Values of 1934. This as such represents a change in perspective towards these types of products, as those previously approved to other entities are covered by the Investment Company Act of 1940, suggesting a somewhat different regulatory perspective than the recently accepted case.
Important precedent to consider for a ETF Bitcoin
While it is clear that the SEC has opened up a bit a bit is a basic unit of information in computing. of perspective with respect to the ETF based on digital currency currency is a medium of exchange that defines value. futures, many critics claim that this is not what was originally expected, precisely because the regulator is still very tight-lipped about the possibility of launching an exchange-traded fund fully associated with Bitcoin, whose price would be directly linked to the price of the digital currency on major exchanges and crypto markets.
In relation to the latter case, the SEC has rejected proposals from VanEck, WisdomTree, Fidelity, and recently that of ARK Invest. In response to all of these requests, the regulator indicated that none addressed the problems associated with price volatility a statistical measure of dispersion of returns, measured by using the standard deviation or variance between returns from that same security or market index. or the potential for associated market an area or arena, online or offline, in which commercial dealings are conducted. manipulation.
However, the analyst from Bloomberg, James Seyffart, indicated at the time that this could be a good mechanism for a ETF Bitcoin The U.S. Securities and Exchange Act of 1933 provides rules that could prove beneficial for cases like those of Grayscale, which would be trying to convert his Grayscale Bitcoin Fund (GBTC) in a local exchange-traded fund.
While the bidding is still going on for a ETF based on Bitcoin, NYSE Arca y Teucrium join ProShares, Valkyrie y a VanEck as the entities fully authorized to operate an exchange-traded fund linked to futures BTC.
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- Grayscale CEO contemplates suing SEC if it doesn’t accept his proposal to launch a Bitcoin ETF in the U.S.
Version by Angel Di Matteo / DiarioBitcoin
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