How Does the Approval of the Spot Bitcoin ETF Impact Cryptocurrency?
US SEC Grants Approval to All 11 Spot Bitcoin ETF Applications | Image Credit: coincodecap.com
The Securities and Exchange Commission (SEC) granted approval to the inaugural spot Bitcoin ETFs on Wednesday, January 10. Among these were funds managed by Fidelity, BlackRock, and Invesco. Eleven spot Bitcoin ETFs were authorized by the SEC in total.
Predicted to commence trading this week, their forthcoming introduction has already caused a stir in the cryptocurrency markets. Monday, January 8th, Bitcoin's price increased by more than 7 percent after CNBC reported that sources with close ties to the SEC indicated approval was imminent.
But wait, weren't Bitcoin ETFs already available for purchase?
Credit: bitcoinmagazine.com | Approval of the Spot Bitcoin ETF Impact Cryptocurrency
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