ANALYSIS: A decade after they were first proposed, spot #bitcoin ETFs are launching in the U.S. Here's what their issuers and exchanges are expecting.@nikhileshde @helenebraunn reporthttps://t.co/gS3EX7PsjR
— CoinDesk (@CoinDesk) January 11, 2024
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Bitcoin ETF: The Liberation after 10 Years of Waiting!
Thu 11 Jan 2024 ▪
3
min of reading ▪ by
Getting informed
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Event
That’s it! Spot Bitcoin ETFs have finally received the green light from the SEC last night, ending a decade of waiting. Now, these financial instruments will be available on the American markets managed by giants such as Cboe Global Markets and Nasdaq. It’s the beginning of a new era!
Bitcoin ETF, D-Day!
The Securities and Exchange Commission formalized the approval of Spot Bitcoin ETFs the day before the deadline. However, Gary Gensler sowed confusion by mentioning a supposed hack of his agency’s account X. A moment of frustration for the crypto community and financial players eager to see their trackers approved.
But last night, the SEC chairman clarified the situation with an official announcement of the approval of Spot Bitcoin ETFs on the market. At last!
In theory, Bitcoin ETF transactions could start as early as 4 a.m, which is 9 a.m. UTC, according to CoinDesk. Unlike the usual opening ceremonies after five and a half hours of opening of the big American exchanges, the spot bitcoin ETFs will have a privileged treatment. Cboe has in fact announced a launch as early as January 11th.
Cynthia Lo Bessette, head of digital asset management at Fidelity, sees ETFs as an additional choice for digital asset enthusiasts.
“We have long believed that a spot exchange-traded product would be an efficient way for investors to gain exposure to bitcoin. As a company, we continue to provide them with tools that support their choices and facilitate secure access to the markets,” she specifies.
For the spokesperson of Cboe Global Markets, “the approval marks a significant advance in establishing crypto as a tradable asset class, paving the way for new trading opportunities.”
It’s a victory for crypto-traders, a significant milestone for crypto as an asset class. And all this, despite the warnings of Gary Gensler in his latest Twitter thread.
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La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose
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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.