The SEC has finally approved the listing of Bitcoin ETFs in the United States.
Bitcoin has become a legitimate investment asset for institutions.
After many meetings and discussions behind closed doors in recent months, the SEC has given the green light to Bitcoin exchange-traded funds, which were massively approved by the securities regulator today, January 10.
The SEC posted on its website the order which authorizes Bitcoin ETFs to be listed and traded on the country's stock exchanges.
With this approval, the SEC has ushered in a new era for the cryptocurrency world, transforming the investment landscape in digital assets.
SEC-approved Bitcoin ETFs will be listed tomorrow
VanEck Bitcoin Trust, VanEck’s proposed Bitcoin spot ETF, and Fidelity’s Fidelity Wise Origin Bitcoin Fund have received SEC approval to list on the Chicago Board Options Exchange (CBOE) under the tickers HODL and FBTC, respectively. The options exchange reported that these Bitcoin ETFs will begin trading starting tomorrow, January 11.
The options market also notes that other Bitcoin-based exchange-traded funds, which also received approval from the securities regulator today, will begin trading as early as tomorrow.
Among the 19b-4 forms that received SEC approval are Ark Invest, BlackRock, Grayscale, Invesco Galaxy, Bitwise, Hashdex, Franklin Templeton, VanEck, Valkyrie, Fidelity, and WisdomTree. The recently published SEC order makes the approval of all these Bitcoin-based investment funds official.
Bitcoin becomes a legitimate investment asset
The approval of these spot ETFs is legitimizing Bitcoin as a new and emerging investment asset class, which has gone from being just a form of alternative electronic cash, as defined by Satoshi Nakamoto in the whitepaper that was published 15 years ago, to becoming one of the most in-demand assets on Wall Street.
Nowadays, Major financial institutions are racing to offer a place to Bitcoin, said Natalie Brunell, host of the Coin Stories podcast.
The crypto market is moving upwards
The approval of Bitcoin ETFs is fueling a new bull run in major cryptocurrencies.
At the time of writing, the market cap of all cryptocurrencies is up significantly, registering a growth of 2,15%, according to data from CoinMarketCap. With this increase, approximately $300.000 billion has been added to the market capitalization of crypto assets.
The price of Bitcoin (BTC) is trading at around $46.000 per unit, with a slight increase of 0,90% in the last few hours. Meanwhile, the daily trading volume of Bitcoin has increased by 24% this Wednesday, exceeding $46.000 billion per day.
Continue reading: Why is Bitcoin Spot ETF approval so important?
