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NYDIG Files For Bitcoin ETF Approval

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VanEck and SolidX have withdrawn an SEC proposal for their latest attempt at a bitcoin ETF, setting this potential institutional on-ramp back again.

Bitcoin-focused financial services firm New York Digital Investment Group (NYDIG) filed for approval to offer a bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC) today.

An ETF is seen as one of the easiest ways of bringing bitcoin exposure to the masses, as it would be accessible through the stock market and legacy brokerage accounts. Currently, with no approved ETF on the market, retail investors using legacy brokerage accounts are constrained to bitcoin trusts like Grayscale’s GBTC. Investment in bitcoin-focused companies is also a route to indirect bitcoin exposure, but an ETF would offer direct exposure to BTC without the need to pay trust premiums or invest in third-party companies.



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