While Warren has expressed her dissatisfaction with the approval of the 11 BTC ETFs, some lawmakers in the US support the SEC’s decision.
Authorities in South Korea have warned local financial institutions from offering spot crypto ETFs following SEC approval in the US.
US-based customers may now access all 11 spot Bitcoin ETFs in both retirement and brokerage accounts through Robinhood Financial.
Investors interested in Bitcoin ETFs in the US have been transferring their 401k retirement plans to institutions offering seamless trading in a bid to obtain financial freedom.
JPMorgan expects maximum outflows from GBTC into spot Bitcoin ETFs due to the very high fees of the former product.
The SEC’s approval of spot Bitcoin ETFs is considered a turning point for the crypto industry.
With Vanguard not allowing users to invest in the spot Bitcoin ETFs now available in the United States, customers are threatening to leave the company, citing a misalignment with the investment philosophy.
The SEC has received a filing for a covered call ETF from Grayscale, which will have no direct exposure to crypto.
However, Robinhood CEO emphasized that even though the value of cryptocurrencies like Bitcoin is rising, they are still complicated and risky
A dissenting SEC commissioner has expressed disapproval of the Bitcoin spot ETFs and highlighted the reasons for this.
The SEC faces deadlines ranging from May 23 to August 7 to make decisions on Ethereum ETF applications.
Operating within tightly regulated stock exchanges, ETFs ensure accessibility through existing retail investors’ brokerage accounts, subject to stringent supervision.
Gradual adoption of spot Bitcoin ETFs is expected to happen through proper education to wealth managers as trading is scheduled to begin today.
The approved ETFs are expected to attract significant inflows. Estimates suggest that Valkyrie could see $200-400 million, with the overall market experiencing $4-5 billion in inflows within the first few weeks.
Coinbase could win big if the SEC approves spot Bitcoin ETF as the exchange is responsible for custody on most of the pending proposals.