The approval of an investment fund in BTC is approaching. Until now, cryptocurrencies had no exchange-traded funds. The bitcoin ETFs are in operation within the territory of Canada and Europe but nothing yet allowed in the United States.
Local American firms do not allow their clients to participate in foreign funds. The SEC (US Securities and Exchange Commission) has rejected any proposal for investment funds in cryptocurrencies.
The e-commerce division of Vanguard and Morgan Stanley does not allow any trading on these products. Charles Schwab allows you to buy shares in foreign companies but not foreign funds. Interactive Brokers displays foreign ETFs on its site, but prohibits US retail clients from buying.
The SEC has spent the past seven years rejecting proposals for US-registered ETFs that would hold bitcoins or bitcoin futures and provide investors with a way to trade their shares at something close to asset value.
The stated reason for this action is that the value of the coins could be manipulated in the hands of less incorrect people.
The excitement about a possible futures ETF in the United States came after the director of the SEC, the regulator of investment assets in the country, stated that he would be more willing to approve a bitcoin ETF, if it was based on futures.
The rise in the price of Bitcoin is also due to policymakers in Congress debating how to incorporate a section of the infrastructure bill, a new tax regulation for cryptocurrencies. In this project, which would impose tax regulations for investors, there is still debate on the exemption of these regulations for certain entities.
The maximum reached in 3 months exceeds $ 45,000 dollars and could head towards $ 50K, although meeting some resistance. Buy scenario from $ 48,200 and $ 50,000.