The high authorities of the United States of Americans security agencies and exchange Commission has taken serious steps to approve the ETF and investment directly into the Bitcoin which would create the amazing mess among the investors of the American people, surely the way has opened to the people of USA directly to invest their money into the currencies, real estate, bonds and Equities etc. There were many people among USA and around the world who had kept their crypto assets under the short arm length but by the grace of (black Rock Inc and Fidelity Investmens) will attract the wholesale as well as retail crypto users.
As we have seen from and since the last decade that SEC has refused the ETF approval but after the Bitcoin struggle SEC approved Bitcoin ETF in January 2024. Now the question here is what is Bitcoin ETF? Actually ETF is a billion and trillion dollar industry which now openly hold the Bitcoin or investment directly into the bitcoin, now the company openly buys and sells the ETF shares upon public exchanges publicly. Now another question arises here. How Bitcoin ETF work's? I will drag the example here about the pixels web3 game which is based on token $pixel backed by the ronin wallet or ronin wallet ecosystem. Same as the case here is Bitcoin ETF work's or if the company releases the millions of tokens which are easily available upon exchanges and trade by selling and buying, these tokens are inturn supported or backed by the company shares, as well as these shares working as the indicators as they show ups and downs of the spot fund prices in response to the Bitcoin.
This means that the investors retain exposure about the virtual tokens, as well as securely store the Bitcoin upon public exchanges, the ETF owners work with big firms such as banks and authorized companies, as well as the market makers buy and sell the ETF shares so that they can keep the hawk 🐦 eye upon the price prediction following the Bitcoin performance.
Litecoin ETF Likely To Be Approved Next, Analyst Suggests
According to PANews, Bloomberg ETF analyst Eric Balchunas shared on the X platform that the S-1 application for a Litecoin ETF has received feedback from the SEC. This development appears to support predictions that Litecoin could be the next cryptocurrency ETF to gain approval. However, the appointment of a new SEC chairman remains a significant variable in this process.