US SEC Approves Spot Bitcoin ETFs for Trading
The long-awaited U.S. spot bitcoin exchange-traded funds (ETFs) have finally received approval from the Securities and Exchange Commission (SEC). On Wednesday, the SEC green-lighted 11 spot bitcoin ETFs to be listed and traded on various exchanges.
Cboe BZX Exchange to List Six Spot Bitcoin ETFs
Six of the approved spot bitcoin ETFs will be listed on the Cboe BZX Exchange. These include Ark 21shares Bitcoin ETF, Invesco Galaxy Bitcoin ETF, Vaneck Bitcoin Trust, Wisdomtree Bitcoin Fund, Fidelity Wise Origin Bitcoin Fund, and Franklin Bitcoin ETF. Cboe has published New Issue Notifications, stating that these ETFs will begin trading as new issues on Thursday, January 11.
NYSE Arca and Nasdaq to List Bitcoin ETFs
Grayscale Bitcoin Trust, Bitwise Bitcoin ETF, and Hashdex Bitcoin ETF will be trading on the NYSE Arca exchange. The NYSE issued notifications that Grayscale Bitcoin Trust and Bitwise Bitcoin ETF will start trading on January 11. Hashdex, on the other hand, will convert its existing ETF into a bitcoin ETF.
Blackrock’s Ishares Bitcoin Trust (IBIT) and Valkyrie’s bitcoin fund will be listed on the Nasdaq stock exchange. Following the SEC’s approval, Blackrock stated that investors can access bitcoin in a cost-effective and convenient way through IBIT.
US Spot Bitcoin ETFs Set to Debut
The Securities and Exchange Commission’s approval of 11 spot bitcoin ETFs means that these ETFs will finally begin trading. The NYSE Arca exchange, Nasdaq stock exchange, and Cboe BZX Exchange have announced that these ETFs will start trading on Thursday. This marks a major milestone for the cryptocurrency market, as the introduction of spot bitcoin ETFs provides a new way for investors to gain exposure to the digital asset. With multiple exchanges offering these ETFs, it will be interesting to see how the market responds and whether it attracts more institutional and retail investors.
Hot Take: Spot Bitcoin ETF Approval Signals Growth Potential
The approval of 11 spot bitcoin ETFs by the SEC indicates the growing acceptance and recognition of cryptocurrencies in the mainstream financial industry. This move opens up new avenues for investors to participate in the bitcoin market efficiently and conveniently through regulated and established exchanges. The availability of spot bitcoin ETFs on major exchanges like NYSE Arca, Nasdaq, and Cboe BZX Exchange is likely to stimulate broader adoption and bring more liquidity to the crypto market. It also signals a positive outlook for the future of cryptocurrencies and further validates bitcoin’s status as a legitimate asset class.
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