The United States Securities and Exchange Commission is expected to green-light funds that will buy and sell bitcoin, leading to potential allocation by wealth managers and financial advisers.
That’s driving the latest hype cycle in the world’s largest token on bets that the likes of wealth managers and financial advisers will finally start to lavish a small portion of their trillion-dollar portfolios on the cryptocurrency promise.Thank an oncoming swing in the regulatory pendulum.
The United States Securities and Exchange Commission is expected, possibly by mid-January or sooner, to green-light funds that will buy and sell bitcoin in the famously tax-efficient and cost-effectiveAt first blush, it offers a path to redemption for digital-asset proponents a year after the FTX Trading Ltd. implosion sparked the industry’s biggest existential crisis and emboldened cryptocurrency naysayers who’ve long dominated traditional finance.Galaxy Digital Holdings Ltd., which is working with Invesco on an application, held a call earlier this month with roughly 300 investment professionals about allocating to bitcoin as an ETF debut nears, according to a person familiar with the matter.Thanks for signing up!The next issue of Investor will soon be in your inbo
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