BITO - January 2024 Month In Review: U.S. Spot Bitcoin ETFs Approved!
2024-02-13 03:36:00 ET
Summary
- Ten years after the first spot Bitcoin exchange-traded fund application was filed in the U.S., the Securities and Exchange Commission finally approved spot Bitcoin ETFs on January 10, 2024.
- In roughly the April/May 2024 time frame, the issuance of new bitcoin, in the form of Bitcoin block rewards awarded to miners, will be cut in half, and miners will receive 3.1 Bitcoin every 10 minutes or so.
- While the use case of Bitcoin as digital money, a potential digital payment layer for the internet could materialize in the future, for the moment, our view is that the most accepted use case for Bitcoin is a form of digital gold, a long-term store of value that acts as a hedge against the debasement of currencies and geopolitical uncertainty.
By Christopher Gannatti, CFA
Spot Bitcoin ETFs Likely to Expand the Investor Base
Ten years after the first spot Bitcoin exchange-traded fund application was filed in the U.S., the Securities and Exchange Commission (SEC) finally approved spot Bitcoin ETFs on January 10, 2024 ....
January 2024 Month In Review: U.S. Spot Bitcoin ETFs Approved!