The approval of 11 bitcoin spot etf by the SEC is going to accelerate adoption of cryptocurrencies by Wall Street(and Main Street).
Adoption rhymes with education and this is precisely what the big guys are currently doing -> training their staff to better understand, explain and promote crypto products & solutions to their clients.
BlackRock may break the first-day flow record with a possible $2 billion asset injection on the first day of trading for its US spot Bitcoin ETF
according to BI's senior ETF analyst Eric Balchunas Seed funding could combine with grassroots interest to give it momentum in a race that includes up to 11 ETFs that we think could gather as much as $4 billion on the first day, and $50 billion of assets within two years.
It looks like Ark Bitcoin ETF has been approved by SEC. Van Eck HODL as well. Both are now available on Fidelity website.
let see if it is not another fake news…
Bloomberg has already prepared the DES pages for the bitcoin spot etf candidates
in case one or several ones get approved tonight
Interesting tweet by X Safety with regards to yesterday evening fake news around bitcoin spot etf approval by SEC
A bit worrying as well… let see what internal investigation will reveal
Bitcoin on a roller coaster after SEC drama
Shortly after the market close on Tuesday, the SEC's X account posted an announcement that it had approved bitcoin ETFs to begin trading, something that has been widely anticipated by the crypto market. That post was made by an imposter and was deleted soon after. About 15 minutes after SEC's imposter post, SEC chair Gary Gensler said from his X account that no bitcoin ETFs had been approved. “The SEC’s @SECGov X/Twitter account has been compromised. The unauthorized tweet regarding bitcoin ETFs was not made by the SEC or its staff,” an SEC spokesperson told CNBC. The price of bitcoin briefly spiked after the initial post, but then quickly slid below $46,000. Source: Bloomberg, CNBC, HolgerZ
Bitcoin $BTC Spot ETFs could trade at an 8% premium relative to the underlying asset warns GTS market maker Reggie Browne
Source: Barchart
Grayscale Bitcoin Trust $GBTC traded close to half a billion on Monday
which is more than 99% of the 3000 current ETFs, and reminder that they are bringing a (volume) gun to a knife fight if they launch with everyone else. That said, the 1.5% fee will act as a repellent at a time when the big asset managers plan to launch spot BTC ETF at 0% or super low fees. Source: Eric Balchunas, Bloomberg
