After a long wait, US markets regulator Securities and Exchange Commission (SEC) finally gave a go-ahead to the spot bitcoin ETFs on Wednesday, a move that led to a massive jump in the bitcoin prices.
At the same time, Ashish Singhal, Co-founder and Group CEO, PeepalCo, called the move “historic” that will bring a “monumental shift” in a post on X platform.
“The US SEC approval of Bitcoin ETF marks a monumental shift in the financial world. It’s a watershed moment for crypto and will bring in a new wave of investors. Now, even the most cautious funds and the titans of Wall Street can tap into Bitcoin’s potential. An ETF will be the simplest form of Bitcoin exposure for retail users. Investors can seamlessly benefit from Bitcoin price movements without the complexities of digital wallets or drastic investment strategy overhauls,” he wrote.
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Published: 11 Jan 2024, 05:28 PM IST