In the first step of its kind
Dubai – Al Arabiya.net
Posted on: July 18, 2023: 04:24 PM GST Last updated: July 18, 2023: 05:51 PM GST
The US Markets and Exchange Commission granted preliminary approval to the request submitted by the company “BlackRock” to list the “ETF” for the “bitcoin” cryptocurrency.
The authority will give the application 21 days to discuss it and submit the necessary papers to make a final decision on it, which could pave the way for the first approval to list a “bitcoin” fund in the country.
This comes at a time when the “Financial Times” expected that the European Union would approve the listing of the first Bitcoin fund at the end of this month.
ETF funds enable customers to trade on products that track the movement of the asset without owning it, but the investment company issuing the fund must maintain sufficient reserves of this asset to cover the needs of customers.
2023-07-18 13:51:40
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