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| node: | US SEC approves bitcoin ETFs in watershed for crypto market |
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| parent: | Bitcoin (The Church of Satoshi and Latter Day Coins) |
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| created: | 10.01.2024 - 23:51:32 |
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https://www.reuters.com/technology/bitcoin-etf-hopefuls-still-expect-sec-approval-despite-social-media-hack-2024-01-10/
WASHINGTON/NEW YORK, Jan 10 (Reuters) - The U.S. securities regulator on Wednesday approved the first U.S.-listed exchange traded funds (ETFs) to track bitcoin, its Chair Gary Gensler said, in a watershed for the world's largest cryptocurrency and the broader crypto industry.
The U.S. Securities and Exchange Commission approved applications, including from BlackRock (BLK.N), Ark Investments, 21Shares (ABTC.S), Fidelity, Invesco (IVZ.N) and VanEck, among others, according to a notice on its website. Some products are expected to begin trading as early as Thursday.
The products - a decade in the making - are a game-changer for bitcoin, offering institutional and retail investors exposure to the world's largest cryptocurrency without directly holding it, and a major boost for a crypto industry beset by a string of scandals.
Standard Chartered analysts this week said the ETFs could draw $50 billion to $100 billion this year alone, potentially driving the price of bitcoin as high as $100,000. Other analysts have said inflows will be closer to $55 billion over five years.
WASHINGTON/NEW YORK, Jan 10 (Reuters) - The U.S. securities regulator on Wednesday approved the first U.S.-listed exchange traded funds (ETFs) to track bitcoin, its Chair Gary Gensler said, in a watershed for the world's largest cryptocurrency and the broader crypto industry.
The U.S. Securities and Exchange Commission approved applications, including from BlackRock (BLK.N), Ark Investments, 21Shares (ABTC.S), Fidelity, Invesco (IVZ.N) and VanEck, among others, according to a notice on its website. Some products are expected to begin trading as early as Thursday.
The products - a decade in the making - are a game-changer for bitcoin, offering institutional and retail investors exposure to the world's largest cryptocurrency without directly holding it, and a major boost for a crypto industry beset by a string of scandals.
Standard Chartered analysts this week said the ETFs could draw $50 billion to $100 billion this year alone, potentially driving the price of bitcoin as high as $100,000. Other analysts have said inflows will be closer to $55 billion over five years.