The U.S. Securities and Exchange Commission (SEC) has approved all 11 Bitcoin spot ETFs, which are expected to be listed tomorrow. Bloomberg analysts predict that there will be $4 billion in capital inflows on the first day of spot ETF trading, with $2 billion coming from BlackRock, and the assets under management are expected to reach $50 billion within two years.
Today, the cryptocurrency market has reached another major milestone. On January 10, the U.S. Securities and Exchange Commission officially approved all 11 Bitcoin spot ETFs. This historic news has caused the overall cryptocurrency market cap to rise by 3.7% to $1.9 trillion in the past 24 hours.
James Seyffart, an ETF analyst at Bloomberg who successfully predicted the timing of spot ETF approvals, explained that the documents currently approved by the SEC are the 19b-4 filings of all issuers (exchange rule change applications), and the regulatory agency is in the process of approving the S-1 filings (prospectus) of all issuers. He expects that these Bitcoin spot ETFs will be successfully listed on January 11.
As the Bitcoin spot ETF is about to be listed tomorrow, the market predicts that this investment product will attract a large influx of capital. Eric Balchunas, a senior ETF analyst at Bloomberg, stated that BlackRock’s Bitcoin spot ETF may receive $2 billion in capital inflows on its first day of trading, breaking the record for first-day capital inflows.
Previously, Standard Chartered Bank estimated that the Bitcoin spot ETF would attract $50 to $100 billion in investment this year, and it would push the Bitcoin price to $200,000 by the end of 2025. However, Eric Balchunas is skeptical of this astonishing figure of $100 billion.
Related reports:
The biggest winner of the spot ETF approval? The U.S. government “holds over 210,000 BTC” worth $10 billion
Stock Goddess calls out: Ark Bitcoin spot ETF to be approved this week, don’t underestimate institutional buying power
Bloomberg analyst: Bitcoin spot ETF “review has been completed”, SEC aims to open for trading on 1/11