In a landmark decision, the US Securities and Exchange Commission (SEC) has given the green light to all 11 spot Bitcoin Exchange Traded Funds (ETF), marking a significant shift in the crypto market. The approved ETFs belong to VanEck, Bitwise, Fidelity, Franklin, Valkyrie, Hashdex, Ark Invest, Grayscale, BlackRock, WisdomTree, and Invesco Galaxy.
The digital asset market has been eagerly awaiting this verdict on Spot Bitcoin ETFs. Over a dozen companies had submitted applications to the SEC, and now, all Spot Bitcoin ETFs have received approval. This is a historic moment for the industry, allowing asset management companies like Valkyrie, BlackRock, and Grayscale to lead their own Bitcoin-focused exchange-traded funds.
BlackRock is leading the pack with its iShares Bitcoin Trust (IBIT), which was approved after paying a 0.25% initial fee. The company is positioning itself as a major player in the burgeoning Bitcoin ETF market, announcing an additional lower cost of 0.20% for the first $5 billion in assets during the first year of operation.
Grayscale Investments’ Grayscale Bitcoin Trust (GBTC) has also been approved. The company has decided to convert GBTC into a Spot Bitcoin ETF, with a starting fee of 1.5%. Fidelity has entered the market with its Wise Origin Bitcoin Trust (FBTC), which has received SEC approval and disclosed a fee of 0.39%.
Ark Invest and 21 Shares have teamed up to launch the ARK 21Shares Bitcoin ETF (ARKB), which carries a 0.25% fee. The company has announced that no fees will be charged during the first six months or the first $1 billion in assets.
VanEck, Valkyrie Digital Assets, Invesco Galaxy, Franklin Templeton Digital Holdings, Bitwise Asset Management, Hashdex, and WisdomTree have all received approval for their respective Bitcoin ETFs, each with unique fee structures and waiver details. Trading is set to begin following SEC approval for these Spot Bitcoin ETF issuers, potentially as early as Thursday morning.
This development is expected to significantly boost the price of Bitcoin and other assets. The introduction of the Spot ETF is a game-changer for the sector, potentially leading to wider adoption of Bitcoin as an asset. This could expose other digital assets to similar risks.
In other news, Mastercard has added a crypto consulting service to encourage cryptocurrency adoption. Deloitte is using blockchain for digital credentials, and China’s Digital Yuan is causing a stir. FTX and Alameda Research Wallets have executed a $23.59 million crypto transfer.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 🇨🇳 |
| Sentiment | positive |
| Relevance Score | 1 |
| People | None |
| Companies | US Securities and Exchange Commission, FTX, BlackRock, Mastercard, Hashdex, VanEck, Ark Invest, Bitwise, Fidelity, Franklin, Valkyrie, Invesco Galaxy, Alameda Research, Deloitte, Grayscale, WisdomTree |
| Currencies | Bitcoin |
| Securities | Grayscale Bitcoin Trust (GBTC), iShares Bitcoin Trust (IBIT), ARK 21Shares Bitcoin ETF (ARKB), Wise Origin Bitcoin Trust (FBTC) |
