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The US SEC approves 11 Bitcoin Spot ETFs, opening a new era of encryption finance.
The US SEC approves 11 Bitcoin Spot ETFs, opening a new chapter in encryption finance.
The United States Securities and Exchange Commission ( SEC ) announced on January 11th the approval of the first Bitcoin Spot Exchange-Traded Funds ( ETF ) listed in the United States. This historic decision marks a significant integration of cryptocurrency with traditional financial markets, providing ordinary investors with a new way to access Bitcoin.
The SEC has approved applications from 11 companies, including BlackRock, Ark Investments, and Fidelity. These ETFs are expected to start trading on January 12. Previously, the applying institutions adjusted their fee structures in preparation for the upcoming market competition.
Industry analysts expect that the Bitcoin ETF could attract a large influx of funds in the short term. Some forecasts suggest that the first-day capital inflow could reach $4 billion, and within two years it might reach $50 billion. This could have a significant impact on the price of Bitcoin.
SEC Chairman Gary Gensler emphasized that this approval is limited to ETF products holding Bitcoin, a non-security commodity, and does not mean that the SEC has changed its stance on other encryption assets. At the same time, there are still disagreements among SEC commissioners regarding this decision.
The launch of the Bitcoin ETF is seen as an important milestone for the encryption currency industry. It provides a more regulated and convenient way for institutional and retail investors to invest in Bitcoin, and is expected to further integrate Bitcoin into the mainstream financial system.
However, the SEC also reminds investors to be cautious of the risks associated with Bitcoin and related products. Bitcoin remains a highly speculative and volatile asset, and investors should exercise caution when participating.
With the official listing and trading of the Bitcoin ETF, the market will closely monitor its performance and impact on the entire encryption currency industry. This development undoubtedly opens a new chapter for Bitcoin and encryption finance, but its long-term effects remain to be further observed.