In 2023, something historic happened on the US stock exchange: the launch of an ETF backed by Bitcoin. The US regulator had previously rejected numerous applications from dozens of investment companies but changed its mind once BlackRock filed its own application.
The SEC said it was reluctant to launch a Bitcoin ETF due to various risks for investors. But there’s one risk no one talks about.
One day, quantum computers may be able to use public keys to calculate secret keys to Bitcoin wallets.
If this risk ever becomes real enough, the SEC will have no choice but to shut down Bitcoin ETFs. It would be the first time in history that a regulator has forced an active ETF to close.
Crypto on the stock market would also become a thing of the past.