Bitcoin Makes History Once More – Spot BTC ETFs Accepted Today

Bitcoin Makes History Once More – Spot BTC ETFs Accepted Today

Just in case you are not aware of this, today is the day in which Bitcoin is making history again. The Securities and Exchange Commission has just accepted spot BTC ETFs. Here are more details about what this means.

Spot BTC ETFs accepted – Bitcoin explodes

The U.S. Securities and Exchange Commission (SEC) recently approved all Spot Bitcoin ETF applications, marking a significant milestone in the world of finance. This decision will allow Bitcoin exchange-traded funds to be traded on the markets for the first time.

SEC Chair Gary Gensler issued a statement in response to previous court orders regarding the SEC’s decision on the Spot Bitcoin ETF applications.

In the statement, Gensler emphasizes that the SEC has “reluctantly” approved these applications, but recognizes the significance of this move in the financial industry.

“Based on these circumstances and those discussed more fully in the approval order, I feel the most sustainable path forward is to approve the listing and trading of these spot bitcoin ETP shares,” Gensler says.

Now, to explain what spot BTC ETFs are. According to official data, “A spot Bitcoin ETF is an exchange-traded fund — a highly liquid fund that changes price throughout the trading day, just like a stock — that directly tracks the price of Bitcoin, primarily by holding a large amount of the cryptocurrency itself.”

ETFs are collective investments that trade on stock exchanges like a stock or bond. They track a specific index, sector, or asset class, such as gold. Unlike traditional mutual funds, they can be bought and sold throughout the day.

Investors believe that the emergence of spot Bitcoin ETFs will inject billions of dollars into the digital currency. This is because it will be easier and less intimidating to invest in Bitcoin.

Firms such as BlackRock and Fidelity are well-known names in the financial industry. Their decision to enter the sector will push Bitcoin further into the mainstream as an investment class. It will also give legitimacy to the shadowy and highly volatile crypto industry.

Rada Mateescu

Passionate about freedom, truth, humanity, and subjects from the science and health-related areas, Rada has been blogging for about ten years, and at Health Thoroughfare, she's covering the latest news on these niches.

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