Coinbase, and exchanges just like it, could suffer when the US Securities and Exchange Commission (SEC) approves a spot Bitcoin Exchange-Traded Fund (
level. Notably, the price has since retracted, breaking below the consolidation level to trade in the $25,600 range, with experts attributing this to the SEC’s decision to delay feedback concerning the BTC ETF applications. An Exchange-Traded Fund is an investment vehicle or an index that tracks the price of an underlying asset. ETFs can not only track a single asset, but a group of assets and sectors. For example, a Bitcoin ETF tracks Bitcoin’s price.
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