Yesterday was a historic moment for both the traditional market and the crypto sector, and Bitcoin spot ETFs were approved for the first time, after a long wait marked by some controversies and delays in dates. Let's look at some incidents that marked this important event.
First we have to put a little in context, and it is known that January was a crucial month, because in this month the deadlines for all the presentations of the spot ETFs of #Bitcoin per had been set. which the United States Securities and Exchange Commission ( #SEC ) had its days numbered. In "image 1" we can see the deadlines set.
This week it was known that things would be defined, however, before having the final decision some events happened. The first was that on the verge of knowing the SEC's decision on the approval of Bitcoin spot ETFs, Gary Gensler launched a publication providing some advice on #inversión in cryptoassets.
In this he points out that we must be careful with companies that offer crypto assets, since they would not be within the framework of law in the United States, as well as the risks that this type of assets implies for investors due to their high volatility and also the presence from some scammers in the middle. In "image 2" we can see the advertisement.
The next day the SEC released a first "official" statement indicating that Bitcoin spot ETFs had been approved, while the price of Bitcoin skyrocketed. In "image 3" we can see this action.
So that 15 minutes later Gary Gensler came out to deny this publication, alluding that the official account of "X" of the SEC had been hacked, which caused the price to fall immediately. He also indicated verbatim that "the SEC has not approved the listing or marketing of spot Bitcoin exchange-traded products." Which made the wait longer.
Finally, Wednesday arrived, and there were already signs that 100% approval would be guaranteed. The reasons were that the Ark Invest and Fidelity trading platforms showed the list of some Bitcoin spot ETFs, and later the CBOE exchange already showed a list with 6 ETFs. So some time later it was known that the 11 Bitcoin spot ETFs had been approved. In "image 4" you can see one of the most important media confirming the news.
After the announcement there was not much movement in the price of Bitcoin, and there were some skeptical investors who did not know if it was true or if it was again a hack. So hours later the market began to react.
At the opening of the traditional stock market today, it was observed that Bitcoin had a significant rise, reaching almost $49,000. A big boost ahead of the start of trading of Bitcoin spot ETFs. In "Image 5" we can see that significant increase.
Today we had a first look at the performance of Bitcoin spot ETFs, where at the close of the session on the stock market we have that the best performer has been Hashdex Bitcoin ETF (DEFI) and Grayscale Bitcoin Trust (GBTC). On the other hand, Ark 21 Shares Bitcoin ETF (ARKB) has not had a good day. In "Image 6" we can see the day's performances ordered by volume.
I believe this is the beginning of a new direction for Bitcoin, with this approval the asset will attract more attention from large investors to be able to diversify their portfolio. This could translate into less volatility in the #BTC price and changing perceptions of some skeptical investors. It is worth mentioning that this is one of the first steps towards greater adoption of Bitcoin. In the future, the opening of new spot ETFs may follow, such as Ether, which is already being evaluated, or other #criptomonedas with higher market capitalization such as XRP or SOL.
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