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There was also, recently, a further curious development, as the SEC approved a leveraged Bitcoin futures ETF for the first time, leading critics to wonder at the logic behind approving leveraged futures ahead of a straightforward spot mechanism, and whether this could be indicative of an incoming SEC shift. What’s more, the second half of June saw the launch of EDX Markets, a crypto exchange backed by finance industry giants including Citadel, Fidelity and Charles Schwab.įor several years, a narrative around Bitcoin has been that the institutions are coming, and now very suddenly, and at an unexpected moment, this part of the script seemed to be playing out at pace. Newly buoyant sentiment has been bolstered by a sequence of further Bitcoin spot ETF applications from other firms, with Fidelity, Invesco, Wisdom Tree and Valkyrie all following BlackRock’s lead.
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