Breaking: SEC Shakes the Market with Historic Approval of #BitcoinETF💰💰💰
On Wednesday, the Securities and Exchange Commission (SEC) granted approval for a batch of spot Bitcoin ETFs, concluding months of anticipation.
This followed the Chicago Board Options Exchange's unanimous approval of all six BTC ETF applications, with trading set to commence on Thursday.
The SEC approved ETFs from 11 issuers in the first wave, including ARK Invest, BlackRock, VanEck, WisdomTree, Fidelity, Invesco, Franklin, Hashdex, Valkyrie, and Grayscale, which received the green light to uplist GBTC to the NYSE. Trading may start as early as Thursday morning, with Cboe planning for its listed ETFs.
Analysts anticipate a week-ending commencement, sparking excitement as industry experts predict a surge in institutional investment for spot Bitcoin ETFs.
Simultaneously, issuers disclosed management fees ranging from 0.2% to 1.5%, excluding waivers, in regulatory filings on Jan. 9 and 10.
The SEC's approval marks a significant step toward mainstreaming cryptocurrency within traditional financial structure.
