The United States Securities and Exchange Commission (SEC) has given the green light to multiple spot Bitcoin ETFs on January 10th.

This approval allows spot Bitcoin ETFs to be listed on all registered national exchanges in the U.S., such as the Nasdaq, NYSE, and CBOE. After years of anticipation, these products will finally be available for trading.

The ETFs are set to go live on the CBOE starting at 9 am on January 11th, coinciding with the opening of the U.S. stock market.

The SEC’s approval mentioned 11 issuers who have been granted permission to list Bitcoin exchange-traded funds. This news caused a surge in traffic to the SEC’s website, causing the filing to briefly disappear.

Firms are gearing up to start trading as soon as possible, with VanEck CEO Jan Van Eck confirming their readiness in an interview with CNBC. Other issuers are also prepared to launch their spot Bitcoin ETF operations promptly.

BlackRock and ARK 21Shares even amended their applications to disclose lower fees than initially stated. Bitwise currently offers the lowest fees at 0.2%, followed by ARK 21Shares, BlackRock, and Fidelity.

Despite the fee competition, it is unlikely that these firms will adjust their fees now that the SEC has given the green light for spot Bitcoin ETFs.

Following the approval, Bitcoin experienced price volatility, trading below $46,000 at press time.

The SEC is investigating a misleading tweet regarding Bitcoin ETF approval, which led to a 6% drop in Bitcoin’s price and significant losses for investors.

With spot Bitcoin ETFs now approved, the focus shifts to the upcoming Bitcoin halving in April and the potential inflows into these traditional finance investment vehicles.

Experts predict varying levels of capital interest in Bitcoin, with estimates ranging from $10 billion to $100 billion in inflows in the first year.

Attention is also turning to Ethereum, which is experiencing its own ETF frenzy and technological upgrades. Despite the fake Bitcoin ETF approval news, Ethereum has shown resilience and gained over 9% in the past 24 hours.

As the cryptocurrency market continues to evolve, investors are eagerly anticipating the impact of these developments on the overall market landscape. Explore more news on Global Crypto News to stay informed about the latest trends and updates in the world of cryptocurrencies and finance.

Post Views: 8