SEClast January spot Bitcoin ETFBy approving both BTC him the cryptocurrencyHe took an important step for the It is stated that spot ETFs are a turning point in BTC’s wider acceptance and greater inclusion in main investment portfolios.

While spot BTC ETFs have attracted great attention since then, a new evaluation of spot BTC ETFs has come from Ripple.

Ripple highlighted the critical role of custodians in managing ETFs in a recent article.

Pointing out that ETFs are of great importance in terms of compliance, ensuring investor access and safe storage of Bitcoin, Ripple explained some important areas that custody institutions should focus on for the ETF.

At this point, Ripple allows custody institutions to BitcoinIt should use strong key management practices, multi-signature wallets, cold storage for offline assets, and encryption to help protect assets from theft and cyberattacks, he said.

Ripple also allows custodians to “Know Your Customer (KYC) and anti-money laundering (AML)He also stated that he must comply with regulations such as “rules”.

Ripple was last voted into by the SEC. spot Bitcoin ETFHe also made explanations about why he approved the . At this point, Ripple emphasized that the SEC approved spot Bitcoin ETFs for mainstream cryptocurrency integration and that the SEC’s approval of spot Bitcoin ETFs is an important step in the acceptance of cryptocurrencies.

Currently the largest cryptocurrency exchange in the USA Coinbaseserves as the custodian of eight of the 11 Bitcoin ETFs launched in January. Among these ETFs BlackRock’un IBIT’i, Ark Invest’in ARKB’si, Bitwise’ın BITB’si ve Grayscale’in Bitcoin Trust GBTCIt includes .

*This is not investment advice.

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