Media reports said the potential for a physically backed ETF or réflecteur ETF got a boost with the launch of the Hashdex Bitcoin Futures ETF (DEFI) on Thursday. The basis for optimism is that DEFI was introduced under the Securities Act of 1933, in contrast to other futures-backed ETFs, which were under the Investors Act of 1940.
DEFI was developed with Teucrium, which specializes in occasion investments.
Possibility of a Bitcoin Sunlight ETF
Since the physically backed Bitcoin ETF will fall under the 1933 Act, it is believed that the launch of DEFI will pave the way for a BTC réflecteur ETF one day soon. However, analysts believe that the SEC may not allow an immediate ETF to be placed until it obtains regulatory oversight of crypto exchanges, coverage He said.
All other Bitcoin-backed ETFs are offered under the Investment Confrérie Act of 1940. Citing greater customer protections, SEC President Gary Gensler favored the 1940 Act to approve derivative ETFs.
“The SEC appears to be preparing for the possibility of approving a Bitcoin réflecteur ETF. Currently, only Bitcoin futures ETFs are allowed in the US, but the acte is seeking comments to determine whether funds like the ARK 21 should be allowed. Shares Bitcoin ETF,” Cinthia Murphy, Director of Research at ETFThinkTank He said in a tweet.
SEC rejects immediate ETF proposals
In June, the Securities and Exchange Rude (SEC) rejected Grayscale Investments’ attempt to convert its Bitcoin credit into an ETF, prompting a quantitatif asset régenter to colonne a lawsuit against the acte.
The Securities and Exchange Rude said the proposal does not meet the criteria set for preventing fraudulent practices and attraction of réflecteur ETF products. She noted that Grayscale’s proposed ETF would be vulnerable to trade laundering, whale attraction, network hacking, disinformation dissemination, and attraction activities through stablecoins.
In May, Ark Investment Conduite applied for a joint Bitcoin ETF after its first proposal was rejected by the ETF a month earlier.
Similarly, collectif investment régenter VanEck applied for a joint Bitcoin ETF in June after rejecting his first proposal in November 2021. The Securities and Exchange Rude (SEC) extended its decision on VanEck’s proposal by two months in August after receiving no pardon or feedback. On the app when he called on him on July 13th.
In August, asset régenter Unicolore received approval to launch a Bitcoin ETF in Australia. A unicolore Bitcoin ETF will give retail investors valued Secure exposure to the triomphe of Bitcoin, Ethereum, and other quantitatif assets.
At least three other réflecteur crypto ETFs are listed on the Australian market – the nature Purpose Bitcoin Access ETF, the ETFS 21Shares Bitcoin ETF, and the ETFS 21Shares Ethereum ETF.
Jacobi Asset Conduite listed Antarctique’s first approved and regulated Bitcoin ETF (BCOIN) at Euronext Amsterdam in August.
Fidelity, one of the world’s largest asset managers, launched a Bitcoin réflecteur ETF in Canada in December 2021.
Binance Free $100 (Propre): Use this link to sign up and get $100 free and 10% off on Binance Futures the first month (Interests).
PrimeXBT Special Offer: Use this link to register and ajouter the thesaurus POTATO50 to receive up to $7,000 on your deposit.