In a significant development, the SEC has officially approved Bitcoin ETF applications from BlackRock, Ark Invest, Fidelity, and other asset managers. This comes after a brief period of confusion caused by the hacking of SEC Chair Gary Gensler’s Twitter account, which led to a false announcement of Bitcoin ETF approval.
Trading is set to begin tomorrow morning, aligning with predictions made by industry insiders. The Bitcoin Spot ETFs that have received SEC approval include BlackRock’s iShares Bitcoin Trust, Valkyre Bitcoin Fund, Fidelity Wise Origin Bitcoin, Invesco Galaxy Bitcoin ETF, Bitwise Bitcoin ETF, Ark 21Shares Bitcoin ETF, Franklin Bitcoin ETF, and VanEcke Bitcoin Trust.
BlackRock has allocated $2 billion for their Bitcoin ETF, following a successful funding round that raised over $2 billion. This amount is expected to flow into their Bitcoin ETF over the next few trading days. Similarly, VanEck has $75 million ready, and Pantera Capital has $200 million, both awaiting investment in their respective Bitcoin ETFs.
While these figures may seem small compared to Bitcoin’s total market capitalization of nearly $906 billion, it’s important to note that these companies are among the world’s largest asset managers, managing trillions of dollars. BlackRock alone has assets under management exceeding $10 trillion. Even if only 0.1% of this capital were to enter the Bitcoin market, it could have a significant positive impact.
At the time of writing, Bitcoin is priced at $46,079. However, it’s uncertain how the Bitcoin price will evolve and whether it will result in a bullish or bearish scenario, similar to a “sell the news event.”
It’s important for readers to conduct their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Gary Gensler, Eric Balchunas |
| Companies | BlackRock, VanEck, Ark Invest, Pantera Capital, Fidelity, Securities and Exchange Commission |
| Currencies | Bitcoin |
| Securities | Invesco Galaxy Bitcoin ETF, BlackRock’s iShares Bitcoin Trust, Bitwise Bitcoin ETF, Fidelity Wise Origin Bitcoin, Valkyre Bitcoin Fund |
