The cryptocurrency industry has a new story in its history: the approval of a bitcoin ETF is part of the Commission of Foreign Values ​​and Values ​​(SEC). The novelty is summa al rally As the main asset lives on past October, the contribution continues to be around 46,000 dollars (41,800 euros). The activation controls…

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The cryptocurrency industry has a new story in its history: the approval of a bitcoin ETF is part of the Commission of Foreign Values ​​and Values ​​(SEC). The novelty is summa al rally As the main asset lives on past October, the contribution continues to be around 46,000 dollars (41,800 euros). The management of activities BlackRock, Fidelity, ARK Investment, Invesco, WisdomTree, Bitwise Asset Management, Valkyrie and other four more can share these funds with these mismo children.

The expectation is no less: Bloomberg Intelligence estimated that this market could sell 100,000 million dollars (91,200 million euros) in short periods. Without embargo, the payment will be made in the sector as it will react to the contribution of the coin that reigns in the cryptocurrency market. At this point, the reaction happened: the bitcoin reacted on the last day, exceeding 46,000 dollars. We do not avoid that many analysts consider that the activity could be absorbed in the immediate vicinity. “Superarre la barrera los 100,000 dólares this year is a real possibility”, affirmed Eric Demuth, co-founder and CEO of the exchange Bitpanda.

Although there are some backgrounds with some of these, like the free inversion backgrounds that operate in Spain, there are no instruments listed with these characteristics in the market. Continuation, these are the keys to this industry decision.

¿What is an ETF?

The cotizados funds (conocidos as ETF, by their names in English), are a financial activity mitad action, mitad fundo de inversión. You can buy and sell in the markets at that price, such as variable income shares. However, this time it is possible to convert it into a diversified portfolio of shares, bonuses or primary materials. The differences between our activities are reflected together in a single total unit and also depending on the proportion of the inversion.

A difference in the funds, which is specified in one day to eject the purchase and sale orders, the ETFs are negocian in abiertos mercados, like the shares, where the major assets are liquidated and transparent. It deals with one of the most revolutionary inventions in the financial industry of the last decades. The first of them, the S&P 500 Trust ETF of the firm State Street Global Investors, was created in 1993 and today it was the mayor of the world, worth 400,000 million dollars.

How does a bitcoin ETF work?

New bitcoin assets allow investors to expose the value of Bitcoin, but without the need to buy or sell the cryptocurrency directly on traditional platforms, exchanges, as sucedía hasta ahora. The bitcoin ETF will fluctuate with the price of the digital asset and will replicate its contribution. If the digital coin is low, the background is affected by mismo.

In this case, the supervisory body is particularly clear about the limits of the new funds. “The Commission's action focuses on ETFs under a marketing that is a value, el bitcoin. We must not indicate in any way the willingness of the Commission to approve contribution standards for the value of cryptocurrencies”, supported by Gary Gensler, president of the Commission of Bolsa y Valores de Estados Unidos.

¿Cuáles son las ventajas los inversores?

These reversing vehicles are the main selling vehicle diversification and facilitate the exposure of different activities in a single product. The ease of the instrument and the interests of the investors allowed it to be “the most disruptive trend in business management in the last 20 years”, consulted by Oliver Wyman. From acquiring these experts, I received more than 6.7 billion dollars inverted through these instruments.

In the case of cryptocurrencies, the ETF allows interested parties to be active through the mismo management with the operation in Bolsa, for example, and without the need to shelter a new source in one exchange.

Can you invert from Spain?

The Spanish investor is not limited to ETFs listed in Spain. As a broker, you can practically access all EU ETFs, provided that you meet a series of conditions. Sin embargo, desde 2018 los intermediaries agents sede en Europa ya no dan acceso al inversor individual a fondos que tizan en las Bolsas estadounidenses, como es este caso.

This is already the option for those interested to use an agent that has not been regulated by the Autoridad Europea de Valores y Mercados (ESMA). I have decided that firms established in other countries of the Union of Europe will allow us to shelter our residents. All interested parties tend to wish (and additional costs) to transfer funds further across the borders of the common market.

¿A bitcoin ETF reduces volatility?

If y no. The cryptocurrency ETFs are issued by regulated companies that operate in normal regulated markets, such as BlackRock and Fidelity, which have good authority in the countries in which they operate. In this sense, operations are subject to supervision to avoid fraud, blanqueo de activities or the financing of illegal activities, problems that have been associated with the cryptocurrency industry in recent years.

Sin embargo, this new vehicle does not require a change respecting the natural conditions of the vehicle. “The price of the cryptography contains a high speculative component that can be assumed to include the total loss of the reversal,” says the National Commission of Mercadoes and Valores.

How do you sell ETFs?

La management y las facilidades para operar no son gratis, claro. The cotizados funds belong to their own commissions, even though the inverters do not tend to have to do if they require a direct inversion into cryptocurrencies. A largo plazo, estos gastos afectarán los profits comparados con las criptomonedas directamente y almacenarlas en una cartera propia.

In addition, if you change the cryptocurrencies through a background, you cannot use them as regular coins to realize the pages or purchases, an alternative that does not completely disappear.

Why did the SEC change the idea?

The market considered that the approval of the Bitcoin ETF by the established authorities resulted from the decision of the local Court of Justice in August, which allowed the conversion of the Grayscale Bitcoin Trust (GBTC) trust into a Bitcoin ETF. The supervisor of the established mercado, the SEC, decided not to call the fallo of the Tribunal and did not require approval.

This is not to be confused with a change in the feeling of Washington hacia las criptomonedas. The SEC has last year a strategy that reacts with the sector, with many sanctions and sanctions, which include its owner in Binance, the main platform of the sector, present in more than 50 countries and with more than 167 million users in all of it world. Sin embargo, Estados Unidos has not advanced into an integral legislation for the sector, although it has received Europa with the approval of MiCA.

What are the expectations of the industry?

Much later than FTX, which became the most important platform in the world of cryptocurrencies, the industry is at the receiving end of good news. The rapid rise in prices to the last three months, as soon as the technology of 45,000 dollars was transferred, it generated enthusiasm in the sector.

A report from JPMorgan, published in November, suggests that, in light of the new money, the approval of the new funds will probably cause a reorganization of existing inversions within the cryptocurrency space. However, we advise that the good view of the authorities does not translate into a regulatory action, especially through the long script that is vivid in the past year.

The actors who were dominated had to be in the sector and they also reported the news. Javier García de la Torre, director of Binance Spain and Portugal, said the announcement “illustrates a new level of acceptance, maturity and generalization of the cryptocurrency market”. For the largest global cryptocurrency exchange platform, “the direct inversion into bitcoin and Various regulated instruments coexist and the different solutions have “distinct profiles of different types and preferences”.

Therefore, Eric Demuth, co-founder and CEO of Bitpanda, coincides with the fact that the co-funds have a major change and are positioned as “a key contributor to institutions and major banks in the United States”. “With the time, the additional liquid in the system together with other factors as its proximity halving “Bitcoin in the middle of April, where the probable cause of the types of interests, can lead to a price of Bitcoin from this point to the longest one,” said Demuth.

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