Coinbase will hold eight Bitcoin funds after getting approval from the SEC.

Source: Coinbase

Coinbase will be in charge of keeping safe eight new Bitcoin exchange-traded funds. This decision was made by the U. S government The Securities and Exchange Commission is a government agency that regulates the stock market and protects investors.

According to a recent blog from Coinbase, the SEC’s approval of 11 spot Bitcoin ETFs is a big step forward for the crypto economy. Coinbase holding onto the ETFs also makes it more influential in the modern times.

Making it easier for more people to invest in cryptocurrency by allowing regulated Bitcoin exchange-traded funds (ETFs).

 

Coinbase wrote on their blog that the SEC approved 11 new Bitcoin ETFs, 8 of which are with Coinbase. This is a big step for bringing cryptocurrencies into regular financial markets.

“These ETFs will let investors buy and sell cryptocurrencies through a regulated investment. This could also lead more big investment companies to start using cryptocurrencies. ”

Coinbase, the largest cryptocurrency, is entering the traditional finance sector, and they expect to do well in the U. S market Investors can spread their money around by buying spot Bitcoin ETFs.

 

“Up until now, most of the money available for investment hasn’t been able to be used to invest in cryptocurrency right away, even though investors and financial advisors want to. ” “Almost half of financial advisors in the US have bitcoin, but only 12% suggest it to their clients. The main reason is because there is no ETF available for it. ”

The ETFs will allow more people to invest in crypto and make it a common type of investment.

 

Cathie Wood disagrees with SEC Chair Gensler’s remarks about the cryptocurrency industry.

The SEC’s approval is good news, but the commission’s hacked social media account, fake announcement, and Chair Gary Gensler’s views on Bitcoin and crypto have caused negative reactions.

Gensler said that although some spot Bitcoin ETP shares were approved for listing and trading today, it doesn’t mean that Bitcoin itself was approved or endorsed.

Cathie Wood, the CEO of ARK Invest, said she was unhappy with Gensler’s statement after the SEC approved Bitcoin ETFs.

“He just insulted the entire world of cryptocurrency. ” Wood said he couldn’t believe it. “The old DNA is attacking the new DNA. “

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