Posted on 01/10/2024 5:31:38 PM PST by aMorePerfectUnion
WASHINGTON/NEW YORK, Jan 10 (Reuters) - The U.S. securities regulator on Wednesday approved the first U.S.-listed exchange traded funds (ETFs) to track bitcoin, its Chair Gary Gensler said, in a watershed for the world's largest cryptocurrency and the broader crypto industry.
The U.S. Securities and Exchange Commission approved 11 applications, including from BlackRock (BLK.N), Ark Investments/21Shares (ABTC.S), Fidelity, Invesco (IVZ.N) and VanEck, among others, according to a notice on its website. Some products are expected to begin trading as early as Thursday, kicking off a fierce competition for market share.
(Excerpt) Read more at reuters.com ...
PING!
They open tomorrow. It is expected that well over a billion dollars will flow into them on the first day.
It will be interesting to see how that plays out.
Not so sure this is good.
I remember when a platinum etf opened, now platinum is worth less.
The reason platinum is worth less is that palladium is worth more. Auto catalysts are a steady source of platinum and palladium. In the past decade or two, the catalyst compositions have changed to include more palladium and less platinum. The prices have adjusted accordingly.
BTW, there is a palladium ETF, too.
The days of Bitcoin FUD from the robber baron class is over.
You had better log into your brokerage account, time is running short, the markets open an hour.
I win the original…since 2013. Not gonna touch this thing.
Blackrock.
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