What will the approval of a spot Bitcoin ETF mean for BTC’s price in the long term?
The United States Securities and Exchange Commission (SEC) approved the first-ever spot Bitcoin exchange-traded fund (ETF) to trade publicly in the U.S. on Jan. 10.
In the landmark judgment, the SEC approved the 19b-4 applications from ARK 21Shares, Invesco Galaxy, VanEck, WisdomTree, Fidelity, Valkyrie, BlackRock, Grayscale, Bitwise, Hashdex and Franklin Templeton, allowing their spot Bitcoin (BTC) ETFs to be listed and traded on regulated exchanges. The trading of the ETFs will begin when markets open on Jan. 11.
The approval of the spot Bitcoin ETF paves the way for investors to gain direct exposure to the price of Bitcoin without buying it. Investors would instead buy shares in listed ETFs holding physical Bitcoin as their underlying asset.
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Source: https://cointelegraph.com/news/bitcoin-etf-sell-news-crypto-adoption