FOX Business Network senior reporter Charles Gasparino published a breaking update on Bitcoin Spot Exchange Traded Funds (ETFs).
According to Gasparino's own sources, the companies are confident that the US Securities and Exchange Commission (SEC) will make a decision about Bitcoin Spot ETFs after January 8. According to Gasparino, companies are optimistic about the SEC's approval, but expect a unique surprise in the decision.
Unlike traditional ETFs, the SEC is expected to require that shares can only be purchased with cash, according to Gasparino. This unprecedented move is believed to be a response to concerns about ETFs being used as money laundering tools.
Bitcoin price has experienced a rapid rise today in anticipation of ETF approval, and as of this writing, it is trading at the $44,000 mark, with a 4% rise in the last 24 hours. The overall cryptocurrency market also appears to be in an upward trend.
*This is not investment advice.
