What are Bitcoin ETFs and why is their approval so long awaited?

$BTC ETFs are the big debate in the crypto world right now

To the point of hacking X's account of the US regulator SEC

The United States Securities and Exchange Commission is pending approval of said ETF

To date the US regulatory body has been reluctant to approve

ETF or Exchange Traded Fund is an investment fund where interested parties can expose themselves to the price of Bitcoin but without having to directly buy or sell the cryptocurrency.

The main advantage is that it is allowed to invest in Bitcoin in a regulated manner

Last August, the SEC lost a court battle against the firm Grayscale

The Court of the District of Columbia stated that #Grayscale could operate with Bitcoin ETFs

This judicial decision put on the table the possibility of the SEC regulating and admitting ETFs in a general way, since a court had already opted for their legality.

One day ahead of schedule, the SEC's X account posted a tweet explaining that approval had been granted for #ETFBitcoin

Minutes later, SEC President Gary Gensler himself denied the information, explaining that X's SEC account had been #hacked

What implications would the approval of the ETF have?

Expectations are very high, a decision by the SEC in this direction would facilitate the entry of institutional money and large companies into the sector.

One of them is the financial giant #BlackRock

According to Watcher.Guru at Bloomberg Intelligence, they believe that there is a 90% chance that the SEC's decision is positive towards Bitcoin ETFs.

Which would mean a great victory for the #criptomonedas sector and its comparison with the traditional #mundofinanciero