Bitcoin Gets The SEC’s Spot Tick – But Caveat Emptor!

The Securities and Exchange Commission has for the first time approved exchange-traded funds that invest directly in Bitcoin, a move heralded as a landmark event for the roughly $1.7 trillion digital-asset sector that will broaden access to the largest cryptocurrency on Wall Street and beyond. Now much is resting on the concept that the futures market has already brought crypto assets sufficiently into the financial mainstream. The SEC was frankly bounced into this decision in response to the loss of some critical legal cases, and puts Bitcoin ever closer to existing financial services players. This does not necessarily mitigate risk. […]