This time is real, not “hacked”

Finally, the ETFs are approved! In a landmark decision that is set to change the landscape of cryptocurrency investments, the U.S. Securities and Exchange Commission (SEC) approved the first-ever spot Bitcoin Exchange-Traded Funds (ETF) on January 10, 2024.

This approval comes after a decade of anticipation and numerous failed applications. It marks a significant milestone in integrating cryptocurrencies into traditional finance, allowing investors to gain exposure to Bitcoin without the need to hold the cryptocurrency directly.

The approval of Bitcoin ETFs is expected to usher in a new wave of capital into the crypto market. This could serve as a tailwind for the price of Bitcoin and other cryptocurrencies. Futures tracking crypto markets saw some $155 million in shorts liquidated in the past 24 hours after a sudden price uptick.

With the green light given to multiple Bitcoin ETFs, no less than ten fund companies have filed the necessary paperwork to launch a spot Bitcoin ETF. These include major players like BlackRock, Fidelity, and Grayscale Investments.

However, opinions on the impact of this approval on the crypto market are mixed. Some analysts predict a huge influx of investment, while others believe the initial impact of U.S. Bitcoin ETFs may be overestimated.

The approval of Bitcoin ETFs by the SEC is a historic moment for the crypto industry. It represents a significant step towards the mainstream acceptance of cryptocurrencies and could lead to increased institutional investment in the sector. As we move forward, it will be interesting to see how this decision shapes the future of crypto investments.

Many people are excited about the future of Bitcoin and this new relationship with Wall Street. They believe the two can coexist and cooperate, creating a win-win situation for both sides. They also hope that Bitcoin and Wall Street can help each other grow and improve, making the world better for everyone.