It has been exactly a year since the U.S. Securities and Exchange Commission (SEC) approved the first spot Bitcoin ETFs, marking a significant milestone for the cryptocurrency industry.
SEC Approval and Bitcoin Surge
On January 10, 2024, the SEC approved the launch of 11 spot Bitcoin ETFs on U.S. exchanges. This event coincided with Bitcoin's rally to a new all-time high, surpassing $100,000 in March 2024 before undergoing a correction.
Leading Spot Bitcoin ETFs
According to Bloomberg ETF analyst James Seyffart, four of the 11 spot Bitcoin ETFs are now ranked among the top 20 ETF launches of all time. These include BlackRock's iShares Bitcoin Trust (IBIT), Fidelity's Wise Origin Bitcoin Fund (FBTC), Ark/21Shares Bitcoin ETF (ARKB), and Bitwise's Bitcoin ETF (BITB). Notably, IBIT surpassed $50 billion in assets under management in less than a year.
Market Impact
As of January 9, 2025, total net assets in U.S. spot Bitcoin ETFs exceeded $106 billion, accounting for about 5.74% of Bitcoin's total market capitalization.
The launch of spot Bitcoin ETFs has had a significant impact on the market, demonstrating strong investor interest in crypto assets.
