Who would have imagined that Bitcoin will trade on significant US stock exchanges at some point?
However, here we are.
Following almost ten years of urging and cajoling the SEC,
An exchange-traded fund (ETF) is how bitcoin is traded.
How does this impact the cryptocurrency market?
Ava Labs’ John Nahas told Cointelegraph…
“I think Bitcoin’s reputation will be cemented with SEC clearance.”
He continued by explaining that, in his opinion, this move will make Bitcoin and cryptocurrencies more widely available to the public much more quickly.
The term “exotic” will soon disappear from Bitcoin.
and win over conventional financial investors.
The market is already noticing the effects of a spot Bitcoin ETF.
Recall that altcoins move in tandem with bitcoin.
Since the approval of the ETF around a week and a half ago…
• BONK… up 78%
• AURORA… up 44%
• WIF… up 41%
• JTO is up 37%.
• ENS… an increase of 35%