Spot Bitcoin ETFs ‘will indeed begin trading tomorrow’

Spot Bitcoin exchange-traded funds (ETFs) are likely to begin trading on Jan. 11 according to Bloomberg ETF analyst James Seyffart, following the SEC’s approval of 11 spot Bitcoin ETFs.

Seyffart posted on X that several S-1 prospectuses are "going effective," meaning that spot Bitcoin ETFs could begin trading soon after. "There are no more steps needed," he said. "Everyone is gonna be ready for tomorrow."

Meanwhile, global fund manager VanEck previously estimated that roughly $2.4 billion would flow into spot Bitcoin products in the first quarter of 2024.

Looking at the bigger picture, crypto investment fund Bitwise predicted that spot Bitcoin ETFs will be “the most successful” ETF product ever launched and could capture a staggering $72 billion worth of assets under management within five years.

#news #sec #etf #btc

Jan-11-2024 08:42:45 AM