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Bitcoin
63,489.67
0.47% -
Ethereum
2,549.40
4.03% -
Tether USDt
1.00
0.02% -
BNB
571.06
1.34% -
Solana
150.80
7.51% -
USDC
0.9998
-0.01% -
XRP
0.5866
-0.21% -
Dogecoin
0.1062
1.02% -
Toncoin
5.70
-1.80% -
TRON
0.1523
1.11% -
Cardano
0.3567
1.83% -
Avalanche
28.16
6.74% -
Shiba Inu
0.0...01439
1.25% -
Chainlink
11.63
2.81% -
Bitcoin Cash
340.22
-2.33% -
Polkadot
4.33
2.60% -
Dai
1.00
0.01% -
UNUS SED LEO
5.73
1.93% -
NEAR Protocol
4.44
-1.06% -
Litecoin
66.00
0.23% -
Sui
1.56
13.80% -
Kaspa
0.1684
-2.67% -
Uniswap
6.81
-0.85% -
Artificial Superintelligence Alliance
1.60
2.50% -
Internet Computer
8.45
3.00% -
Aptos
7.36
11.55% -
Pepe
0.0...08224
4.18% -
Monero
178.35
2.99% -
Bittensor
423.51
10.57% -
POL (ex-MATIC)
0.4050
1.48%
When was the Bitcoin ETF approved?
On October 19, 2021, the United States' SEC approved the first Bitcoin exchange-traded fund (ETF), the ProShares Bitcoin Strategy ETF (BITO).
Aug 26, 2024 at 11:50 am
When Was the Bitcoin ETF Approved?
Background
A Bitcoin exchange-traded fund (ETF) is an investment fund that tracks the price of Bitcoin and trades on a stock exchange. The approval of a Bitcoin ETF has been highly anticipated by investors seeking a regulated and convenient way to gain exposure to the cryptocurrency.
First Approved Bitcoin ETF
The first Bitcoin ETF was approved by the United States Securities and Exchange Commission (SEC) on October 19, 2021. The ETF, called the ProShares Bitcoin Strategy ETF (BITO), started trading on the New York Stock Exchange (NYSE) on October 21, 2021.
Approval Process
The approval of the Bitcoin ETF involved a lengthy and rigorous process. BITO was filed with the SEC in December 2020 and went through multiple revisions before receiving final approval. The SEC considered factors such as the asset's underlying structure, custody arrangements, and potential market manipulation.
Impact of Approval
The approval of the Bitcoin ETF was a significant milestone for the cryptocurrency industry. It provided investors with an accessible way to hold Bitcoin without having to directly purchase and store the digital asset. The ETF also helped to legitimize Bitcoin as an investment class and attract a broader range of investors.
Subsequent Bitcoin ETFs
Since the approval of BITO, several other Bitcoin ETFs have been approved by the SEC. These include:
- VanEck Bitcoin Strategy ETF (XBTF): Approved on October 22, 2021
- Valkyrie Bitcoin Strategy ETF (BTF): Approved on October 25, 2021
- Galaxy Bitcoin ETF (BTCG): Approved on December 19, 2021
- AdvisorShares Bitcoin Strategy ETF (CRPT): Approved on March 31, 2022
- Global X Bitcoin Trust (GBTC): Approved on April 6, 2022
Disclaimer:
The approval of Bitcoin ETFs does not guarantee their long-term success or safety. Investors should carefully consider the risks associated with investing in cryptocurrencies before making any investment decisions.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
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