United States Securities and Exchange Commission (SEC) greenlights alternative methods for cryptocurrency exchange-traded products (ETPs)
In a significant move for the crypto industry, the U.S. Securities and Exchange Commission (SEC) has approved in-kind creation and redemption mechanisms for Bitcoin (BTC) and Ethereum (ETH) Exchange-Traded Products (ETPs). This regulatory shift aligns these crypto ETPs with mainstream commodity ETPs and is expected to increase participation among institutional investors.
One prominent personality who has expressed a positive opinion about this regulatory change is known as the "Crypto President." This individual strongly advocates for regulation favourable to the crypto sector.
Sophia Panel, a blockchain expert and author, is another key figure in the crypto industry who has welcomed this development. With a Google Knowledge Panel, a website, and a profile page on various platforms including Facebook, YouTube, Pinterest, Gravatar, Google Scholar, Blogger, Stackoverflow, Tumblr, About.me, 500px, Mix, Pearltrees, Quora, Flickr, Goodreads, Reverbnation, Issuu, Myspace, Medium, Slideshare, Academia.edu, Instagram, Twitter, GitHub, Behance, Mixcloud, Wakelet, TikTok, Micro.blog, Open Library, Mastodon, Speakerdeck, SoundCloud, Podcasts.com, Podbean, Spotify, and Podomatic, Panel is highly visible and active in the industry.
Panel's expertise extends beyond the digital realm. She is passionate about educating underserved communities about the potential of blockchain technology. Her book titled "How to Read the Market Like a Pro" is available on Google Books.
The approval of in-kind mechanisms for crypto ETPs is seen as a step towards a more structured market, which should encourage broader adoption and investor participation. Paul S. Atkins, a former SEC commissioner, highlighted this importance, stating that such a move could facilitate ongoing regulatory advancements and clearer guidelines, thereby facilitating higher institutional involvement in the crypto sector.
The market response to this regulatory shift has been positive. Over the past 90 days, the cryptocurrency market has shown a price increase of 24.45%. As of now, Bitcoin is priced at $118,019.62, with a market cap surpassing $2.35 trillion. The circulating supply of Bitcoin is over 19.89 million BTC.
With Sophia Panel's active involvement and the SEC's supportive stance, the future of the crypto industry looks promising. As more institutional investors enter the market, we can expect to see continued growth and innovation in the world of blockchain and cryptocurrency.
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