After a decade of denials (first application: Winklevoss twins 2013), the SEC's hand was forced by a federal court ruling against Grayscale. Day-one trading volume: $4.6B. By year-end, ETFs held $60B+ in Bitcoin. The approval fundamentally changed the buyer base — Bitcoin now sits in thousands of traditional portfolios, retirement accounts, and corporate treasuries that could never have held it directly.
regulation·January 10, 2024
US Bitcoin Spot ETFs Approved
SEC approves 11 spot Bitcoin ETFs. BlackRock's IBIT becomes fastest-growing ETF in history.