Mass Approvals: SEC Gives Green Light to Multiple Spot Bitcoin ETFs
The U.S. Securities and Exchange Commission (SEC) has granted approval for 11 spot bitcoin exchange-traded funds (ETFs) to be listed and traded on U.S. stock exchanges. This highly anticipated move marks a significant milestone in the regulatory landscape. Trading for the approved spot bitcoin ETFs is set to commence on Thursday on NYSE Arca, Nasdaq, and Cboe BZX Exchange.
Ethereum Takes Center Stage, Surpassing Bitcoin ETFs in Market Reaction
Despite the SEC’s approval of the spot bitcoin ETFs, the price of bitcoin remained stagnant in the 24 hours following the announcement. In contrast, ethereum experienced a 9.1% surge on Wednesday, showcasing its outperformance compared to bitcoin.
Mysterious Bitcoin Transfer to Satoshi Nakamoto’s Genesis Address
A wallet belonging to an unidentified individual transferred approximately 26.917 bitcoin, valued at $1.19 million, to Satoshi Nakamoto’s genesis wallet two days after Bitcoin’s 15th anniversary. The genesis wallet, which dates back to January 3, 2009, has predominantly been involved in nominal dust transactions.
Record-breaking Trading Volume for US Spot Bitcoin ETFs on Debut Day, Blackrock Leads with $1 Billion
On their first day of trading, U.S. spot bitcoin ETFs accumulated an impressive total trading volume of $4.6 billion. Blackrock, the world’s largest asset manager, generated over $1 billion in trading volume for their Ishares Bitcoin Trust. Grayscale’s spot bitcoin ETF, which transitioned from the Grayscale Bitcoin Trust, recorded a total trading volume of $2.3 billion. This ETF launch stands as the most impactful Day One performance in ETF history, according to industry analysts.
Renowned Financial Expert Robert Kiyosaki Bolsters Bitcoin Holdings After SEC Approval of Spot Bitcoin ETFs
Robert Kiyosaki, the best-selling author of “Rich Dad Poor Dad,” has disclosed that he has increased his bitcoin holdings following the SEC’s approval of spot bitcoin ETFs. Kiyosaki’s decision aligns with his belief in the future potential of bitcoin as a store of value and hedge against inflation.
Hot Take: SEC Approvals Boost Bitcoin ETF Market, but Ethereum Steals the Show
The recent approval of 11 spot bitcoin ETFs by the SEC has undoubtedly brought increased attention and legitimacy to the crypto market. However, the lackluster response in bitcoin’s price demonstrates the rising prominence of ethereum. As the market shifts, it will be interesting to see how these developments shape the future of the crypto landscape.
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