The content discusses the launch of the first spot bitcoin ETF in Europe and highlights that while such ETFs have been allowed in various jurisdictions, the US Securities and Exchange Commission (SEC) remains hesitant to approve a spot bitcoin ETF due to concerns of fraud and market manipulation. It mentions existing spot bitcoin ETFs in Canada and Brazil and their assets under management. The article also explains the concept of bitcoin ETNs and mentions one ETF in Europe that measures the energy usage linked to bitcoin in the fund. The SEC’s approval for a spot bitcoin ETF depends on the existence of a surveillance sharing agreement with a regulated market of significant size. The article concludes by stating that while the approval of a spot bitcoin ETF in the US is not impossible, it still faces certain challenges.
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