As the January 10 deadline approaches, retirement savers seeking exposure to Bitcoin without direct ownership of the cryptocurrency coins might soon find the access they desire. U.S. regulators are nearing a decision on whether to permit a spot bitcoin exchange-traded fund (ETF), designed to mirror the real-time price movements of Bitcoin.
Industry participants are optimistic that the U.S. Securities and Exchange Commission will grant approval. Recent reports suggest that the spot Bitcoin ETF approval could come as soon as December 29.
Bitcoin ETF to Fuel Exposure to Crypto
Participants in the industry anticipate that once these offerings are accessible, it won’t only be high-risk traders but also retirement savers who will enjoy increased access to crypto as an asset class. This access may be facilitated either through their company’s 401(k) plans or, if applicable, through solo 401(k)s and self-directed IRAs. Chris Kline, chief revenue officer of Bitcoin IRA said:
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