Spot Bitcoin ETF receives official approval from the SEC

Re:Spot Bitcoin ETF receives official approval from the SEC by kobalsky on Wednesday January 10, 2024 @10:43PM (#38947273)

THCX the cannabis ETF went from $230 to $16. Maybe it was not known to be risky, but it was a massive rug pull. Does that qualify?

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Re:Spot Bitcoin ETF receives official approval from the SEC by dpflan on Thursday January 11, 2024 @06:35AM (#38950879)

I should've added this comment from the SEC, the entity that just authorized this ETF:

"""

Though we’re merit neutral, I’d note that the underlying assets in the metals ETPs have consumer and industrial uses, while in contrast bitcoin is primarily a speculative, volatile asset that’s also used for illicit activity including ransomware,[4] money laundering,[5] sanction evasion,[6] and terrorist financing.[7]

"""

- https://www.sec.gov/news/statement/gensler-statement-spot-bi...

What other ETF exists for an asset that the SEC closes its statements about like this?

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Re:Spot Bitcoin ETF receives official approval from the SEC by dpflan on Thursday January 11, 2024 @09:29AM (#38952617)

I think you may be right regarding the thc industry in the US, its gray area of existence.

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