2024

Bitcoin

April

The SEC took an important step for both BTC and cryptocurrencies by approving spot Bitcoin ETFs last January. 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 came 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 said custodians should use strong key management practices, multi-signature wallets, cold storage for offline assets, and encryption to help protect Bitcoins from theft and cyberattacks.
Ripple also stated that custodians must also comply with regulations such as “Know Your Customer (KYC) and anti-money laundering (AML)” rules.
Ripple recently made statements about why the SEC approved spot Bitcoin ETFs. 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, Coinbase, the largest U.S. cryptocurrency exchange, serves as the custodian for eight of the 11 Bitcoin ETFs launched in January. These ETFs include BlackRock's IBIT, Ark Invest's ARKB, Bitwise's BITB, and Grayscale's Bitcoin Trust GBTC.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Using an enterprise-grade digital asset custody provider is crucial for ensuring the safety, security, and accessibility of cryptocurrencies and tokenized assets.
 Learn about the key considerations for spot bitcoin ETFs and why secure custody matters. <a href="https://t.co/iqlEJXmrxH" rel="noopener noreferrer nofollow">https://t.co/iqlEJXmrxH</a>
 — Ripple (@Ripple) <a href="https://twitter.com/Ripple/status/1783575713108439050?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 25, 2024</a>
</blockquote>
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*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/bitcoin-btc-statement-from-ripple/" rel="noopener noreferrer nofollow">Bitcoin (BTC) Statement from Ripple!</a>

Bitcoin (BTC) Statement from Ripple!

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