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Many of the crypto-curious still view buying Bitcoin from a crypto exchange as an intimidating and opaque process. The technical aspects of holding Bitcoin—such as crypto wallets, Bitcoin addresses and private keys—are confusing to newcomers, and scare some investors away.
All of this has intensified the appeal of a Bitcoin ETF, or exchange-traded fund. In the U.S., major financial institutions like Blackrock, Fidelity, and Invesco have applied with the U.S. Securities and Exchange Commission (SEC) to launch ETFs. As of August 2023, the Securities and Exchange Commission (SEC) has yet to approve a spot Bitcoin ETF. On the other hand, Grayscale’s two-year battle to launch a Bitcoin ETF may finally be turning a corner. On August 29, 2023, the United States Court of Appeals for the DC Circuit sided with Grayscale over the U.S. Securities and Exchange Commission (SEC) in the crypto firm’s quest to launch a Bitcoin ETF. The price of Bitcoin rose significantly following the news.
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Author: Robert Stevens,Ki Chong Tran,Daniel Roberts
Tip BTC Newswire with Cryptocurrency