Congressmen Emmer, Soto Want SEC to Approve a Spot Market Bitcoin ETF

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The Bipartisan Congressional tag team argues that "investors should have a choice over which product is most suitable for them." "We question why, if you are comfortable allowing trading in an ETF based on derivatives contracts, you are not equally or more comfortable allowing trading to commence in ETFs based on spot Bitcoin," the congressmen wrote. "Bitcoin spot ETFs are based directly on the asset, which inherently provides more protection for investors."

ETFs are investment products that track the price of an asset or assets. Retail investors can integrate ETFs into their retirement and savings portfolios to get price exposure to different stocks and bonds. A Bitcoin ETF would allow people who don't want to buy and store Bitcoin themselves to still get in on the action; instead of buying BTC on a cryptocurrency exchange, they could buy and trade it on a stock exchange.more information