Spot Bitcoin ETF Inflows Could Hit $4 Billion in First Day of Trading
Key Points:
This landmark moment comes following the approval of 11 spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) in a single day.
Bloomberg predicts that a staggering $2 billion of the anticipated spot Bitcoin ETF inflows could originate from BlackRock alone. The SEC‘s green light has paved the way for traditional financial giants, including industry heavyweights like BlackRock and Fidelity, to launch investment vehicles offering regulated exposure to Bitcoin for institutional investors in the United States.
The approval has triggered a flurry of activity, with preparations from issuers indicating that trading will commence on Thursday morning. The SEC’s nod has been a cause for celebration among Wall Street, with the prospect of as much as $4 billion pouring into the market on the first day for the 11 ETFs in the pipeline.
The anticipation surrounding these spot Bitcoin ETFs has sent shockwaves through the crypto community, and Thursday’s trading session is poised to be a historic moment in the evolution of cryptocurrency investment products.
With fees set at approximately 0.2% to 0.4% and major players entering the market, including BlackRock’s Larry Fink, expressing a shift in sentiment towards Bitcoin, the stage is set for a new chapter in the intersection of traditional finance and cryptocurrency.
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