Historic Moment ? FINALLY! SEC Approves 11 Bitcoin ETFs
The Securities and Exchange Commission said it approved 11 applications, including from BlackRock Ark Investments/21Shares , Fidelity, Invesco and VanEck.
Its been years since the delay and pending approval from the SEC
Most Products are expected to begin trading today (Thursday)!
Seems like this year is the year for Bitcoin with its halving coming at April as well.
Are you buying the ETF? Let me know in the comment below
Remember cryptocurrency and this spot ETF are highly speculative. Please do your own research before investing/trading in it
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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SpyderCall : 2024 is definitely the year for Cryptocurrencies. The halving cycle corresponds with multiple ETF approvals. One can logically assume that there will be a lot more capital and liquidity put into crypto markets.
For some cryptos like BTC, extra capital only brings up the price. The only way BTCs price moves up is by buying BTC or adding money to the system. The only way the price goes down is by selling BTC. You can not bid up or down the price of BTC like equities on the stock market.
With all of these wealthy investment banks putting a ton of cash into the crypto markets, I think it is safe to say that things are only looking up from here.
SpyderCall : I am still hoping that we will get one more dip in price before the super rally. So far, it does not seem like that is going to happen at all since most crypto coins are absolutely ripping like crazy
BrianjhOP SpyderCall: Yup don't seem like a dip is happening anytime soon for now. I also wonder what will happen to $Coinbase (COIN.US)$ share price
tonight
SpyderCall BrianjhOP: This is new news to me. I wonder how that will play out. I know that Meta was working on releasing their own cryptocurrency before the pandemic. They scrapped those plans, though. Maybe they will work on releasing their own currency now as well. Just a thought.
BrianjhOP SpyderCall: I will be posting content on the Amazon token later. Maybe Meta deems that the time wasnt right to release their own cryptocurrency. If the adoption from Amazon is seen as a successful one I believe Meta will follow in as well
SpyderCall BrianjhOP: I was watching it after hours. there was an initial dip after hours with most of the crypto related ETFs. But then they started lifting off nicely
It seems like they were following BTCs price action after hours as BTC barely climbed after the ETF news.
I think this is going to be a positive for all of the crypto related ETFs, in my opinion. And mostly for COIN, especially when they finally get their own ETF.
SpyderCall : I'm just really confused as to why BTC is not getting as much love as Ethereum and most of the alt coins. Maybe these ETFs will load up on BTC tomorrow once they go live in the markets. I don't exactly know how it is going to play out. I don't think that they invested ahead of the ETF release.
SpyderCall BrianjhOP: Good stuff. I'm sure a lot of mooers would like to know about it. I just found out from you myself.
BrianjhOP SpyderCall: Ya, we will need to see how it plays out. I saw a video from a youtuber saying that in the 1st few years, everybody will play by the book. For certain amount of Value of ETF there will be backed by certain amount of bitcoin. In the long run, companies might start go off track because of the high amt of money inflow into the ETF, rules and regulation will slowly become fussy (possibly corrupted) and it might be a better choice to held real BTC instead of Spot ETF
SpyderCall BrianjhOP: I definitely think BTC is better than any Crypto ETF or spot ETF. But some people would rather invest in the ETF over any ceyptocurrency. Some people won't touch crypto at all. Maybe they will buy the ETFs.
Personally, I think the ETFs are just a way for these investment banks to make more money from the crypto hype through fees and capital investments. Either way, it is still a plus for the crypto industry for sure.
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