The approval for Bitcoin spot ETFs has finally arrived. Here’s everything you need to know. When will trading begin?
The Bitcoin spot ETFs have been approved over six months since BlackRock’s approval request, followed by those of many significant American investment funds.
A few minutes ago, the SEC announced that these financial instruments meet the guidelines. Here are all the details on the approval of the Bitcoin spot ETFs. When will trading of these financial instruments begin, and what will happen to the price of BTC?
Impacts of the approval
The approval of the Bitcoin spot ETFs, widely anticipated in recent months, has finally arrived today, January 10, 2024.
The SEC has approved the applications of ARK 21Shares, Invesco Galaxy, VanEck, WisdomTree, Fidelity, Valkyrie, BlackRock, Grayscale, Bitwise, Hashdex, and Franklin Templeton. The document is available on the SEC’s website.
New institutional players will now be able to offer Bitcoin to their clients, radically changing the perception of the leading cryptocurrency and the entire sector. This development opens up new possibilities based on a more robust image and a positive perception from the general public. Inevitably, the rest of the crypto industry will benefit from this change and the exposure to a new public segment, introducing alternative dynamics.
The crypto world expects the most significant influx of capital in its history. According to some estimates, between 100 and 300 billion dollars could enter the market in the next four years thanks to these financial instruments. If this happens, the impact on the price of Bitcoin will be, to say the least, explosive.
