SEC Approves Bitcoin ETFs: What’s Next for BTC and Crypto?

• SEC approves first U.S. spot Bitcoin ETFs after a decade-long effort.
• Trading is set to begin with major exchanges and liquidity support.

In a landmark decision, the U.S. Securities and Exchange Commission (SEC) has given the green light to the country’s first regulated spot Bitcoin exchange-traded funds (ETFs). The approval, granted just a day after a false announcement briefly sent markets into disarray, marks the end of a challenging decade-long journey for proponents of spot Bitcoin ETFs.

On January 10, the SEC approved the 19b-4 applications from industry giants including ARK 21Shares, Invesco Galaxy, VanEck, WisdomTree, Fidelity, Valkyrie, BlackRock, Grayscale, Bitwise, Hashdex, and Franklin Templeton.

This crucial regulatory nod paves the way for the listing and trading of spot Bitcoin ETFs on major U.S. exchanges such as NYSE, Cboe Global Markets, and Nasdaq. Trading, eagerly anticipated by market participants, could commence as early as 4 a.m. ET, coincides with the opening of U.S. stock exchanges, with major trading firms poised to provide liquidity for these groundbreaking products.

First Day Of Bitcoin ETFs Approval

The approval of spot Bitcoin ETFs marks a significant milestone for the cryptocurrency market, with global implications. The journey to regulatory acceptance has been long, but with the SEC‘s green light, a new era in crypto investment has begun.

The crypto community celebrated the historic approval of spot ETFs. There are tens of thousands of crypto users flooding platforms like X with celebratory messages under the trending hashtag #BitcoinETF.

Justin Sun, founder of Tron, expressed his views on this development, stating

The approval of Bitcoin ETF in the United States demonstrates that the trend of cryptocurrencies is unstoppable. Shortly, Asian and Chinese markets will also embrace this opportunity, and Bitcoin will eventually reach the world’s eight billion people.

With 11 spot Bitcoin ETFs now available, some having attracted billions of dollars in assets before launch, market participants eagerly anticipated the commencement of trading. Bitcoin’s spot market, futures markets, and futures ETFs are expected to contribute to the liquidity of spot ETFs on the first day.

Amidst this, Bitcoin showcased a modest surge of 0.42%, trading at $46,128. Meanwhile, altcoins like Ethereum, Avalanche, and Dogecoin experienced exponential growth. However, the analysts predict that the upcoming days will see BTC hitting new all-time highs.