proposed by the Winklevoss twins was denied by the U.S. Securities and Exchange Commission , there has been one rejection after another for any physically-backed Bitcoin ETF proposal put forward.Hint: she hates it as much as we do.Reasons for the rejection typically revolve around the charge that cryptocurrency markets are easily manipulated and the proper safeguards are not in place to protect investors.
If a spot ETF were to be approved, it would render this long-running objection moot and bring a new level of legitimacy to Bitcoin and the crypto asset class as a whole. This has the potential to usher in a new wave of institutional adoption that could bring about the end of the crypto winter as new funds flow into the market.“Don’t fight the Fed” is a common expression investors use to explain one of the most influential forces on global financial markets.
During the same period of time, risk assets around the world have been falling in price, with Bitcoin declining from $48,000 at the end of March to its current price, which is trading near support at $20,000. The historic rise in the cryptocurrency and legacy markets that was witnessed in 2021 was largely driven by the easy money policies of the Fed, and it’s highly likely that a return to such policies would once again see funds flow into the crypto ecosystem.2021 saw El Salvador become the first country in the world to adopt Bitcoin as a legal tender for use by its citizens.
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