Reference Rates for Bitcoin ETFs [Report]

In early January 2024, the SEC approved the first spot Bitcoin exchange-traded fund (ETF). Crypto-asset ETFs simplify the process of investing in Bitcoin and allows investors to mitigate risk and diversify their portfolios between digital and traditional assets. Since reference rates serve as a pricing mechanism to determine the value of ETF shares and ensure accurate tracking of the underlying digital asset, having a precise and timely benchmark rate is crucial.

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