The SEC said it had not yet granted approval of spot-bitcoin ETFs, despite a post from its official account.
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Has crypto become a way for wealthy South Africans to move money offshore and get around exchange controls?
This week will mark the culmination of a yearslong push to launch ETFs backed by bitcoin in the US.
A slump in bitcoin saw the cryptocurrency erase all gains it had made so far this year, bucking a long-running upswing.
Bitcoin rose above $45 000 on Tuesday for the first time since April 2022.
If 2022 was the year that “broke bitcoin”, 2023 has been the year of trauma recovery.
Most companies that have applied for crypto licences in South Africa are already registered as financial service providers.
The bull case preached by the laser-eyed crowd is, as before, driven by sentiment and speculation rather than utility.
Bitcoin’s longest winning run since May lifted the token past $44 000.
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