The SEC approved Bitcoin spot ETFs

Hamburg, 20 January 2024 - The United States Securities and Exchange Commission has approved Bitcoin spot ETFs.  On 9th of January 2024 a tweet was posted on the SEC's Twitter account which stated the approval of Bitcoin ETFs and right after that Gary Gensler annaounced that the account has been hacked and it has not been approved. This fake news has somehow manipulated the market. The price of bitcoin briefly spiked after the initial post, but then quickly slid below $46,000.

Finally, the SEC published an statement on 10th of January which approved the listing and trading of 11 spot Bitocin ETFs. Many pioneers in the industry believe that this event marks a significant milestone in the mainstream acceptance of blockchain technology and it signals a shift in perception among executives globally. The 10 largest Bitcoin ETPs/ETNs in Europe have a combined size of €2.5 billion, and most of them have been trading for years.

However, some cryptocurrency enthusiasts who adhere to the original principles of  decentralization are expressing concerns about the potential entry of Wallstreet into the crypto market. They fear that allowing big Financial players like Blackrock and other ETF issuers to hold a significant amount of the world's Bitcoin for their ETFs could lead to the centralization that cryptocurrencies aimed to avoid. What do you think about the approval of the spot Bitcoin ETFs? share your ideas in the comments section.



The approved Bitcoin spot ETFs: