Bitcoin ETF approval by the SEC: the commentary
“The approval by the SEC of all eleven requests for authorization relating to physical ETFs on the spot price of Bitcoin (including BlackRock, Fidelity Investments and Franklin Templeton) undoubtedly constitutes a historic milestone for the digital asset sector. This decision by the US regulator, in addition to having a legislative impact, will strengthen and affirm the legitimacy of digital assets, significantly expanding the possible investments by institutional investors in the sector.
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The approval also represents a new and decisive step towards the maturity phase of Bitcoin and cryptocurrencies, and will also help reduce its volatility. In essence, the legitimacy of digital assets will be strengthened and affirmed, as it simplifies their purchase and tax management, indirectly bringing Bitcoin into the portfolio of many traditional investors, both institutional and retail.
This is an important one move towards the convergence between traditional and digital finance, in which, as the Stuttgart Stock Exchange, we believe very much. Strengthened by over 160 years of history, as a regulated partner for banks, brokers and asset managers, since 2019 – the first among the stock exchanges in Europe – we have been working on this convergence, through a complete offer of cryptocurrencies and digital assets for the institutional customers, covering the entire value chain of digital finance”.
*Comment by Luciano Serra, Country Manager Italy of Boerse Stuttgart Digital
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