January 10, 2024, The United States SEC just approved Bitcoin Spot ETFs according to Eric Balchunas of Bloomberg Intelligence.
The wait for Bitcoin ETFs to be approved has been a topic of great interest and speculation since 2023. This has created great anticipation in the cryptocurrency market regarding their formal approval. Industry experts and investors have been anxiously awaiting the decision from the SEC, which had a decision scheduled to be announced today.
In this article, we will discuss:
Bitcoin Spot ETF Approved Today by SEC
The wait for Bitcoin Spot ETFs to be approved is over, the US SEC has given its approval for the ETFs to be launched tomorrow.
“Order granting accelerated approval” it’s over. Thank God. pic.twitter.com/qCozlxzSBX
— Eric Balchunas (@EricBalchunas) January 10, 2024
The journey to this milestone began in 2013, when the Winklevoss brothers, pioneers in the field of cryptocurrencies, made the first application to the SEC for a Bitcoin-based fund. The approval of spot Bitcoin ETFs, including financial sector giants like BlackRock, Ark Invest, Grayscale, and Fidelity, signals significant regulatory recognition for Bitcoin.
Spot Bitcoin ETFs differ from existing futures ETFs. While futures ETFs track Bitcoin prices through futures contracts, spot ETFs involve the actual acquisition of Bitcoin, reducing its supply in the market. This feature is crucial as it offers institutional investors such as pension funds and insurance companies a more direct and possibly safer way to invest in Bitcoin.
The SEC’s approval also reinforces the US’s position on the global cryptocurrency scene, joining other countries such as Canada, Germany and Brazil, which already have operational spot Bitcoin ETFs. This move is a significant step towards mainstream adoption of cryptocurrencies.
List of ETFs Approved Today by the SEC are: BlackRock, Ark Invest, Grayscale, VanEck, Bitwise, Fidelity, Hashdex, WisdomTree, Invesco Galaxy, Franklin, Valkyrie.
Bitcoin Now Chart
At the time of publication, the price of BTC was quoted at US$45,889.58, down 1% in the last 24 hours.
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/etf-bitcoin-spot-foi-oficialmente-aprovado-hoje-nos-eua-pela-sec/
