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In recent years, in order to bring Bitcoin into the mainstream of investment and make it more accessible to retail investors, many unconventional attempts have emerged. However, due to the drastic price fluctuations, a series of negative news involving fraud, and widespread skepticism about the stability of the cryptocurrency industry, regulatory authorities have been reluctant to give the green light.
In this context, physically settled Bitcoin ETFs are a prime example. In fact, as early as last year, Clayton stated that the approval of cryptocurrency ETFs is unforeseeable unless the problems of market manipulation are addressed.
Given the aforementioned concerns, Bakkt, the Bitcoin futures platform under Intercontinental Exchange (ICE), has gone to great lengths to ease the worries of investors and regulatory agencies. They have purchased a high-value insurance policy worth $125 million for the Bitcoin they custody, aiming to address the concerns of stakeholders. |
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Post time 21-12-2023 21:09:57
