There has been a lot of attention surrounding cryptocurrencies going back to Bitcoin’s exponential rise in price between 2010 and 2021. Subsequently in 2022, cryptocurrencies received even more attention when FTX collapsed and the then Chief Executive was arrested for stealing from FTX customers. More recently, cryptocurrencies generated headlines when cryptocurrency fund manager Grayscale won a lawsuit against the Securities and Exchange Commission in favor of Grayscale for its’ proposed Bitcoin backed spot exchange-traded fund (a “spot Bitcoin ETF”). Additionally, twelve other aspiring enterprises have applied for and
await a ruling from the SEC. Now, if you are like me, you are probably wondering: what is a spot Bitcoin ETF?, why is the SEC involved if Bitcoin is not considered a regulated security?, and why is this important to the investment sector?
