On January 10th (according to US time), the SEC officially approved the first-ever listed Bitcoin ETFs in the United States. This marks a pivotal moment for Bitcoin and the entire cryptocurrency industry, valued at $1.7 trillion.
The announcement was officially posted on the SEC's website. The regulatory body approved registrations from various entities, including BlackRock, Ark Investments, 21Shares, Fidelity, Invesco, and VanEck, among others. Some of these ETF products are expected to commence trading as early as January 11th.
Bitcoin ETFs for spot trading have faced challenges over the past decade. ETFs represent a game-changing factor for Bitcoin, enabling institutional and retail investors to access the world's largest cryptocurrency without the need to directly hold it. This development serves as a significant catalyst for the besieged cryptocurrency industry, marred by a series of scandals.
