The Bitcoin ETF Elite Financial Institution On Custodian Role
Finally SEC has finally approved the so awaiting bitcoin ETF, this single act has brought about a win for the crypto space. Bitcoin ETF should we be afraid? with approval it has created an avenue for firms( hedge funds) to enter into the space, and create several options as regards investment options as it’s speculated that most financial institutions are willingly accepting hold the king crypto(bitcoin) on behalf of their clients.
When financial institutions begins to hold these digital assets on behalf of their clients will be risky for business as many of the major players in the financial sector their intention is to play custodian roles of the digital asset (bitcoin). Within the financial sector there is a power tussle on who will be the authority participants of the ETF shares. An investment journalist name Tabbi says that - The first thing you need to know about Goldman Sachs is that it’s everywhere. The world’s most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money when there is money to be made the squid will strike.
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