The U.S. Securities and Exchange Commission (SEC) has approved all 11 Bitcoin spot ETFs, which are expected to be listed tomorrow. Bloomberg analysts predict that on the first day of trading, these spot ETFs will attract $4 billion in funds, with $2 billion coming from BlackRock, and manage $50 billion in assets within two years.
Today marks another major milestone in the cryptocurrency market! The U.S. Securities and Exchange Commission (SEC) officially approved all 11 Bitcoin spot ETFs on January 10th local time. This historic news has caused the overall cryptocurrency market value to rise by 3.7% to $1.9 trillion in the past 24 hours.
James Seyffart, an ETF analyst at Bloomberg, successfully predicted the timing of the spot ETF approval and explained that the current SEC approval documents are the 19b-4 filings for all issuers, while the regulatory agency is reviewing the S-1 filings (prospectus) for all issuers. He expects these Bitcoin spot ETFs to be successfully listed on January 11th local time.
As the Bitcoin spot ETF is about to be listed tomorrow, the market predicts that this investment product will attract a large amount of funds.
Eric Balchunas, a senior ETF analyst at Bloomberg, stated that BlackRock’s Bitcoin spot ETF may receive $2 billion in funds on the first day of listing, breaking the record for the highest inflow of funds on the first day.
Previously, Standard Chartered Bank estimated that the Bitcoin spot ETF would attract investments of $500-1,000 billion this year, helping the Bitcoin price rise to $200,000 by the end of 2025. However, Eric Balchunas is skeptical of this staggering number of $1,000 billion.
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