2024-02-10 01:21:56 ET
Summary
- The SEC approved the launch of several spot Bitcoin ETFs, including the ARK 21Shares Bitcoin ETF.
- Both the ETF's and Bitcoin's prices have dipped following the approval, raising questions about institutional adoption and demand.
- Instead, the answer seems to be investors rotating away from Grayscale's GBTC to ARKB and other recently launched ETFs.
- The approval of spot ETFs has created a more level playing field and introduced competition in the crypto marketplace, benefiting investors and the broader market.
- However, with this asset class turning more mature, the risks are that strategies that have worked in the past may simply fail, especially in light of the halving event.
This is my first Bitcoin ( BTC-USD ) related publication since the important milestone reached on January 11, when the Securities Exchange Commission (SEC) approved the launch of several spot Bitcoin ETFs or exchange-traded funds, some of them issued by Wall Street's major financial institutions....
Read the full article on Seeking Alpha
For further details see:
ARKB: After Grayscale, It's Now Bitcoin's Turn To Drive The Upside