ETFs Could Rock the Bitcoin World

What exchange-traded funds did to the traditional investment industry over decades might happen in a fraction of the time for the world of cryptocurrency players. There is a growing sense that a bitcoin ETF might finally arrive in the U.S. in the not-too-distant future. The nominated chairman of the Securities and Exchange Commission, Gary Gensler, has taught courses on cryptocurrency. The bitcoin market has experienced huge growth in recent months and now has the involvement of some big institutions. VanEck, Fidelity and others are again seeking regulatory approval for bitcoin ETFs. Already there are indicators of big potential demand. The first bitcoin ETF in North America, the Toronto-listed has amassed roughly $1 billion in assets since its February launch. Meanwhile, the Grayscale Bitcoin Trust last week reiterated its longstanding intention to seek to convert its publicly traded bitcoin fund to an ETF. Many analysts have attributed the fund shares’ recent…

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