Bitcoin exchange-traded funds are launching in the US
SEC Chairman Gary Gensler personally announced the event on the Commission's website. The proposals of all eleven applicant companies were approved at once: Grayscale, BlackRock, Valkyrie, Bitwise, Hashdex, ARK 21Shares, Invesco Galaxy, Fidelity, Franklin Templeton, VanEck and WisdomTree.
Trading of the new investment products is permitted on the New York Stock Exchange (NYSE), Nasdaq and the Chicago Board Options Exchange (CBOE).
From 2018 to March 2023, the Commission rejected more than 20 applications for spot Bitcoin ETFs, the head of the department himself admitted. One of them, filed by Grayscale, proposed converting the Grayscale Bitcoin Trust into an ETF.
In recent months, the crypto market has been gripped by a real epidemic of predictions about how Bitcoin will behave after the SEC decision. Forecasts were more often optimistic - that the world's first cryptocurrency would definitely go up. Analysts at Standard Chartered (LON:STAN), for example, said that BTC will reach $200,000.
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