“This is a pivotal moment that legitimizes Bitcoin’s future,” said LMAX Group’s CEO, David Mercer, after the Securities and Exchange Commission approved 11 Bitcoin exchange-traded fund (ETF) applications.
The crypto industry has received the much-anticipated approval for a spot Bitcoin ETF in the United States. Although only 11 companies were approved to list a Bitcoin ETF, the regulatory decision could benefit the entire industry.
Following the decision yesterday (Wednesday), the big and small personalities of the crypto industry have poured into social media with enthusiasm.
“We’re so back,” wrote Matt Hougan, CIO at Bitwise, one of the companies receiving the SEC’s approval for a Bitcoin ETF. Bitwise confirmed that it will list its Bitcoin ETF on NYSE Arca on Thursday.
We’re so back.
— Matt Hougan (@Matt_Hougan) January 10, 2024
“It’s hard to fully capture how big today is for bitcoin,” Hougan said in another statement, adding: “But ‘game-changer,’ ‘sea change,’ or ‘turning point’ get closest. For more than a decade, investors who wanted to access the world’s largest crypto asset had to wrestle with how to own it. For many mainstream investors, that hurdle is now gone.”
Bitwise will donate 10% of the profits of the Bitwise Bitcoin ETF (ticker: BITB) to bitcoin open-source development.
Recipient orgs:
– @BitcoinBrink
– @OpenSats
– @HRFBitcoin is important to the future. We’re excited for $BITB to support its foundation 👇 pic.twitter.com/JMzd4bMOB9
— Bitwise (@BitwiseInvest) January 10, 2024
“3,845 Days”
Cameron Winklevoss, who accused the SEC of market manipulation a day before, highlighted that the approval came “3,845 days” after the first application for a Bitcoin ETF by him and his broker, Tyler Winklevoss, in 2013.
“Happy Bitcoin ETF Approval Day!” the twin Winklevoss wrote on X (formerly Twitter).
First they ignore you, then they laugh at you, then they fight you, then they make you wait 10 years…then you WIN!
— Cameron Winklevoss (@cameron) January 10, 2024
Other market participants who received the approval for Bitcoin ETF detailed their belief in the asset class. Jan van Eck, Chief Executive Officer at VanEck, wrote: “We understand to our core that investors need a hedge in their portfolios if and when governments lose control over the money supply.”
1/ We are not tourists to bitcoin. For 7 years—since 2017—we have been advocating for the approval of an ETF and educating the market…
