ETF Approval Day: A Historic Day for Bitcoin

After 10 years of anticipation, the first spot Bitcoin ETFs were approved today.

This development marks a monumental shift in the digital asset landscape, creating unprecedented opportunities for both institutional and retail investors.

A total of 11 Bitcoin ETFs have received the green light, with industry giants like BlackRock, Grayscale, Hashdex, Bitwise, VanEck, WisdomTree, Fidelity, Invesco, Valkyrie, ARK Invest, and Franklin Templeton leading the charge. This diverse selection of ETFs opens up new avenues for investors to gain exposure to Bitcoin.

Effective immediately, these ETFs are live for trading, signaling the start of a new era in the cryptocurrency world. The crypto market is evolving rapidly, and these ETFs are poised to play a significant role in its growth.

Projections are nothing short of extraordinary, with many ETF issuers expecting massive inflows. Valkyrie, for example, anticipates a staggering $4 billion to $5 billion within the first few weeks. VanEck estimates a substantial $1 billion in the initial days, and BlackRock forecasts approximately $2 billion within the first week. These figures reflect the growing appetite for Bitcoin exposure in the traditional financial markets.

With the introduction of Bitcoin Spot ETFs, investors now have a choice when it comes to their Bitcoin holdings. You can opt to own BTC outright, using a self-custodial digital or hardware wallet, that upholds the principles on which BTC was designed. Alternatively, you can now explore the ability to gain exposure to BTC through your traditional brokerage account, keeping in mind that fees may apply, and tradability of the ETFs is limited to market hours. 

Something that makes these spot ETFs so groundbreaking is that they require issuers to purchase and hold the underlying asset: Bitcoin. With issuers managing trillions of dollars in assets, this means that a large amount of BTC’s circulating supply will be taken off the market, adding another level of scarcity to an asset that is already limited in its maximum supply. 

The approval of Bitcoin Spot ETFs represents a watershed moment for the digital asset industry. It expands the horizons for investors, both old and new, offering a new option to gain exposure to Bitcoin. Whether you choose the path of self-custody or the traditional financial route, one thing is clear: Bitcoin is now more accessible and relevant than ever before.

As the cryptocurrency landscape evolves, our Bitcoin ATMs and Private Client Desk continue to provide a convenient and secure way for you to buy and sell Bitcoin.