Regulatory Updates - The SEC released new FAQs on crypto assets and distributed ledger technology [1]

Regulatory Focus - The Division of Trading and Markets has prepared FAQs regarding crypto asset activities and distributed ledger technology [1]

Core Insights - The trading of spot Bitcoin ETFs has been ongoing for approximately 18 months, indicating a growing acceptance and interest among investors in gaining direct exposure to Bitcoin [1] Group 1 - Investors have shifted their focus from the specific details of individual ETFs to a broader preference for obtaining direct exposure to Bitcoin [1]