{"id":25529,"date":"2024-01-11T01:38:58","date_gmt":"2024-01-11T01:38:58","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/u-s-markets-to-see-spot-bitcoin-etfs-after-sec-approval\/"},"modified":"2024-01-11T01:38:58","modified_gmt":"2024-01-11T01:38:58","slug":"u-s-markets-to-see-spot-bitcoin-etfs-after-sec-approval","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/u-s-markets-to-see-spot-bitcoin-etfs-after-sec-approval\/","title":{"rendered":"U.S. Markets to See Spot Bitcoin ETFs After SEC Approval"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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On January 10, the U.S. Securities and Exchange Commission (SEC) gave the green light for multiple spot Bitcoin ETFs, a major move in the crypto world. This decision allows these ETFs to be listed on major U.S. exchanges, including the Nasdaq, NYSE, and CBOE. Starting from 9 am on January 11, these ETFs will begin trading at the CBOE, which is a historical moment in the history of cryptocurrency.<\/p>\n

This major approval concludes a long-standing quest spanning over a decade to list Bitcoin ETFs on major exchanges. The SEC\u2019s filing, which briefly overwhelmed their website due to heavy traffic, named 11 issuers authorized to list Bitcoin exchange-traded funds. The SEC\u2019s document states, \u201cAs described in more detail in the Proposals\u2019 respective amended filings, each Proposal seeks to list and trade shares of a Trust that would hold spot bitcoin, in whole or in part. This order approves the Proposals on an accelerated basis.\u201d<\/em><\/p>\n

Immediate Trading<\/h2>\n

Leading firms like VanEck were ready to commence trading immediately after approval. VanEck CEO Jan Van Eck, in an interview with CNBC, confirmed their preparedness, saying, \u201cFirms had indicated readiness to begin trading as early as Jan. 11.\u201d<\/em> Other issuers also expressed their readiness to start spot BTC ETF operations without delay.<\/p>\n

In anticipation of the approval, BlackRock and ARK 21Shares filed amended applications to offer even lower fees, indicating a competitive market. Currently, Bitwise maintains the lowest fee structure at 0.2%, followed by ARK 21Shares, BlackRock, and Fidelity. Bloomberg\u2019s Eric Balchunas commented on the fee competition, noting, \u201cIt\u2019s also unlikely that firms will change their fees now that the SEC has issued green lights for spot BTC ETFs.\u201d<\/em><\/p>\n

The announcement had immediate effects on the market, with Bitcoin trading at $46,681 currently, according to CoinMarketCap<\/a> data, good for a 1% rise, slightly less than what many may have predicted.<\/p>\n

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\u2018We Did Not Approve or Endorse Bitcoin\u2019<\/h2>\n

Gary Gensler, the Chair of the SEC, clarified the decision, stating, \u201cWe did not approve or endorse bitcoin<\/a>.\u201d He further explained, \u201cInvestors should remain cautious about the myriad risks associated with bitcoin and products whose value is tied to crypto.\u201d<\/em> Gensler emphasized the speculative nature of Bitcoin and its use in illegal activities. He also made it clear that this approval does not indicate any broader acceptance of crypto assets by the SEC, saying, \u201cIt should in no way signal the commission\u2019s willingness to approve listing standards for crypto asset securities.\u201d<\/em><\/p>\n<\/p><\/div>\n

Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) On January 10, the U.S. Securities and Exchange Commission (SEC) gave the green light for multiple spot Bitcoin ETFs, a major move in the crypto world. This decision allows these ETFs to be listed on major U.S. exchanges, including the Nasdaq, NYSE, and CBOE. Starting from […]<\/p>\n","protected":false},"author":5,"featured_media":25530,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/25529"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=25529"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/25529\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/25530"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=25529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=25529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=25529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}