The US SEC Approves 11 Bitcoin Spot ETFs: A Milestone Moment for the Crypto Market

The Bitcoin market has迎来了历史性时刻. The U.S. Securities and Exchange Commission (SEC) has officially approved the applications for 11 Bitcoin Spot Exchange-Traded Funds (ETFs), marking an important watershed between encryption currency and traditional finance.

SEC Chairman Gary Gensler announced that the 19b-4 filings submitted by the New York Stock Exchange, Nasdaq, and Chicago Board Options Exchange have officially taken effect, allowing these markets to offer Bitcoin Spot ETF trading as early as the 12th. In the lead-up to the approval, applicants have been adjusting their fee strategies in preparation for the upcoming battle for funding.

Industry analysts expect that the Bitcoin ETF could raise up to $4 billion on its first trading day and may reach $50 billion within two years. This move will provide ordinary investors with easier access to the Bitcoin market.

The SEC has approved applications from 11 companies, including BlackRock, Ark Investments, 21Shares, Fidelity, Invesco, and VanEck. Some products are expected to start trading on Thursday.

Gensler emphasized that this approval is limited to ETPs holding Bitcoin, a non-security commodity, and does not signify a change in the SEC's stance toward other encryption assets or market participants.

SEC Commissioner Hester Peirce stated that the logic behind the previous rejection of the Bitcoin Spot ETF application is "puzzling" and believes this is a moment worth celebrating. However, Commissioner Caroline Crenshaw expressed dissent regarding the approval decision, arguing that the Bitcoin spot market still poses risks of fraud and manipulation.

This decision is seen as an important step in the institutionalization of Bitcoin as an asset class. Analysts expect that the approval of the ETF could drive up the price of Bitcoin, potentially reaching 100,000 dollars.

In terms of fees, various applicants are engaged in fierce competition. Institutions such as BlackRock iShares, Bitwise, and Ark/21Shares have adopted a strategy of low initial rates to attract investors. The fee levels range from 0 to 1.5%, becoming one of the key factors in the competition for ETFs.

The SEC emphasized in its statement that this approval does not represent an endorsement of Bitcoin, and investors still need to remain vigilant about the associated risks. The SEC stated that it will closely monitor the trading of these ETFs to ensure that exchanges implement rules to prevent fraud and manipulation.

The approval of the Bitcoin ETF marks a new stage of development for the crypto market, providing investors with more options while also bringing new regulatory challenges. With these products officially launched, the market will closely watch their performance and impact on the entire cryptocurrency ecosystem.