In a recent milestone development for the crypto assets and Bitcoin market, the United States Securities and Exchange Commission (SEC) has approved all the 11 spot Bitcoin ETFs submitted by the world’s largest asset managers including Blackrock, Fidelity, Franklin Templeton, Ark Invests and many others etc.
As per the official records, trading for the approved Bitcoin ETFs is scheduled to commence on Thursday 11 Jan 2024, enabling potential investors to get exposure to Bitcoin through regulated and traditional investment firms. The approval of these BTC ETFs shows an important milestone in the history of the crypto market.
Approval of these ETFs shows a significant ground breakthrough moment in the ongoing integration of cryptocurrencies into the traditional financial system. In the end, as institutional and retail investor participation grows, we'll see massive developments and further mainstream adoption in the upcoming future. Also, as per the Bloomberg reports, about $4B of institutional inflows is about to be injected into the BTC market alone of which $2B will be from Blackrock on day one, as the trading gets started on Thursday.
As of now, at the time of writing this article, BTC is trading at around $46,800 (gained 8.5% over the last seven days and 2.75% over the last 24 hours) with a market capitalization of $920 billion.