{"id":1935,"date":"2024-01-12T18:50:24","date_gmt":"2024-01-12T17:50:24","guid":{"rendered":"https:\/\/cryptandco.com\/?p=1935"},"modified":"2024-01-12T18:50:24","modified_gmt":"2024-01-12T17:50:24","slug":"bitcoin-spot-etf-approval-what-we-need-to-know","status":"publish","type":"post","link":"https:\/\/cryptandco.com\/en\/approvazione-degli-etf-spot-bitcoin-cosa-dobbiamo-sapere\/","title":{"rendered":"Approval of Spot Bitcoin ETFs: what do we need to know?"},"content":{"rendered":"
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Approval of Spot Bitcoin ETFs: what do we need to know?<\/span><\/span><\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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On January 10, 2024, the Securities and Exchange Commission.<\/span> (SEC) <\/span>of the United States approved the <\/span>ETF Spot Bitcoin<\/span>. This is an important milestone for the cryptocurrency industry, as it makes it easier for the <\/span>institutional investors <\/span>invest in <\/span>Bitcoin<\/span>.<\/span><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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What are Spot Bitcoin ETFs?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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The <\/span>ETF Spot Bitcoin<\/span> are exchange-traded funds that invest directly in <\/span>Bitcoin<\/span>. This means that the <\/span>investors<\/span> who purchase shares in a<\/span> ETF Spot Bitcoin <\/span>actually possess a portion of <\/span>Bitcoin<\/span>.<\/span><\/p>

Before the approval of the <\/span>SEC<\/span>, the <\/span>institutional investors<\/span> could invest in <\/span>Bitcoin <\/span>only through derivatives, such as futures or contracts for difference (<\/span>CFD<\/span>). Derivatives are financial instruments that track the price of an underlying asset, but do not give the investor ownership of the asset itself.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Why is approval important?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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The approval of the <\/span>ETF Spot Bitcoin<\/span> offers institutional investors a number of advantages over derivatives. First, the <\/span>ETF Spot Bitcoin<\/span> offer more direct exposure to the price of the <\/span>Bitcoin<\/span>. Second, the <\/span>ETF Spot Bitcoin<\/span> are generally more liquid than derivatives, which means that investors can buy and sell stocks more easily. Third, the <\/span>ETF Spot Bitcoin<\/span> are generally cheaper than derivatives, which means investors pay lower fees.<\/span><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Fiscal aspects<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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L'<\/span>approval<\/span> of <\/span>ETF Spot Bitcoin<\/span> also has<\/span> tax implications <\/span>for investors. In Italy, the <\/span>ETF Spot Bitcoin<\/span> are subject to the same<\/span> taxation<\/span> of mutual funds, with some differences depending on whether they are <\/span>\"harmonized<\/span>\" or not.<\/span><\/p>

Harmonized Bitcoin Spot ETFs.<\/span>i<\/span><\/p>

The <\/span>Harmonized Spot Bitcoin ETFs <\/span>Are in compliance with European regulations. In this case, the capital gain from their trading is considered \"capital income\" with a<\/span> taxation of 26%<\/span>, without the possibility of deducting any capital losses.<\/span><\/p>

Non-harmonized Spot Bitcoin ETFs<\/span><\/p>

The <\/span>Non-harmonized Spot Bitcoin ETFs <\/span>do not comply with European regulations. In this case, miscellaneous income taxed at marginal rates is produced with, in this case, the possibility of deducting any capital losses generated.<\/span><\/p>

In general, capital losses realized from the sale of Spot Bitcoin ETFs are not taxed, unless the ETFs are non-harmonized. In this case, capital losses can be deducted from miscellaneous income.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Future Impacts<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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It is expected that the approval of the <\/span>ETF Spot Bitcoin<\/span> Will have a significant impact on the <\/span>cryptocurrency<\/span>. Analysts believe that approval could lead to:<\/span><\/p>