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Global X on board with bitcoin ETF approval

Yasmine Masi12 January 2024
Gold coins with Bitcoin written on them

Exchange traded fund (ETF) provider, Global X ETFs, has expressed its pleasure with the recent decision made by the U.S. Securities and Exchange Commission (SEC) to approve spot Bitcoin ETF applications.

The U.S. was one of the last international markets to approve applications to invest in spot Bitcoin ETFs, which Global X said marks a “significant milestone” for the cryptocurrency sector as more global regions move to implement regulations and create a safer space for investors.

“The SEC’s approval affirms the maturation of the cryptocurrency space, strengthening its position as a legitimate and promising avenue for investors,” Evan Metcalf, Chief Executive of Global X ETFs in Australia, said.

“This decision aligns with our vision of broader global acceptance of digital assets and addresses the escalating demand for investment opportunities in the cryptocurrency sector.

“It is encouraging to witness a growing recognition of digital assets as a legitimate investment class, and we anticipate heightened demand for this type of exposure from investors, particularly here in Australia. The notable rallies of Bitcoin and Ethereum this year further underscores this growth potential.”

Global X said they were the first provider to bring cryptocurrency ETFs to the Asia Pacific market and that its 21Shares Bitcoin ETF and the Global X 21Shares Ethereum ETF listed on the Cboe exchange are the only spot cryptocurrency ETFs in Australia.

“ETF products such as our Global X 21Shares Ethereum ETF (EETH) and Global X 21Shares Bitcoin ETF (EBTC) offer Australian investors a secure and accessible means to tap into the potential gains of this sector,” Metcalf said.

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