On Wednesday, January 10th, a historical move was made when the United States Securities and Exchange Commission (SEC) officially approved the listing of the first-ever spot Bitcoin Exchange-Traded Funds (ETFs).
Today, the Commission approved the listing and trading of a number of spot bitcoin exchange-traded product (ETP) shares.
While we approved the listing and trading of certain spot bitcoin ETP shares today, we did not approve or endorse bitcoin. Investors should remain cautious about the myriad risks associated with bitcoin and products whose value is tied to crypto.
said SEC Chair Gary Gensler in a statement
According to Investopedia:
- An exchange-traded fund (ETF) is a basket of securities that trades on an exchange just like a stock does.
- ETF share prices fluctuate all day as the ETF is bought and sold; this is different from mutual funds, which only trade once a day after the market closes.
- ETFs can contain all types of investments, including stocks, commodities, or bonds; some offer U.S.-only holdings, while others are international.
- ETFs offer low expense ratios and fewer broker commissions than buying the stocks individually.
Bitcoin Magazine relished in the news, writing:
The introduction of spot Bitcoin ETFs in the United States is expected to unlock unprecedented opportunities for both institutional and retail investors, offering a more accessible and regulated avenue for participating in the burgeoning Bitcoin market.
Industry analysts predict that the approval of these ETFs will catalyze a surge in institutional capital inflow into Bitcoin, potentially fueling BTC’s value to new all time highs and solidifying its position as a legitimate asset class.
The SEC’s decision signifies a significant shift in regulatory stance towards embracing Bitcoin, signaling increased acceptance and recognition of it within the traditional financial realm. This approval is expected to pave the way for future developments in bitcoin-related investment products, potentially opening doors for a more diversified range of BTC-based financial instruments for investors.
As the SEC finalizes preparations for the listing of the first spot Bitcoin ETFs, market participants are on the edge of their seats, awaiting a new era in the investment landscape shaped by the integration of bitcoin into mainstream portfolios.
However, its launch has had encountered issues, with reports that investment management firm Vanguard was restricting customers from buying the Bitcoin ETFs via their platform.
Nevertheless, this morning Larry Fink, CEO of asset manager juggernaut Blackrock, which manages roughly $10 trillion in assets alone, praised the move and drew comparisons to owning gold, during an episode of CNBC’s Squawk Box.
I believe it goes up if the world is frightened, if the people have fearful geopolitical risks, they’re fearful of their own risks. It’s no different than what gold represented over thousands of years. It is an asset class that protects you.
Unlike gold where we manufacture new gold, we’re almost at the ceiling of the amount of Bitcoin that can be created. What we’re trying to do is offer an instrument that can store wealth.
He went on to say that this a bigger step to tokenization of assets, the future of commerce and transactions. SEE: Citibank Says $5 Trillion Of CBDCs Will Be In Circulation ‘By The End Of This Decade.’ Says Mass Adoption Of Cryptos Will Come Because Of CBDCs
Let me be clear: ETFs are step one in the technological revolution in the financial markets. Step two is going to be the tokenization of every financial asset. To me, this is where we believe it’s going. […] These are technological changes that can allow us to move forward.
[…] As I said, these are just stepping stones towards tokenization. And I really do believe that this is where we’re going to be going. We have the technology to tokenize today.
Think about this: if you had a tokenized security, and you have a tokenized identity, you Andrew [Ross Sorkin], the moment you buy or sell an instrument on a general ledger that is all created together – you want to talk about issues about money laundering and all that; this eliminates all corruption by having a tokenized system.
Fink explained
In September of last year, Citibank announced a shock move to tokenize customer’s assets. SEE: Citi Bank Announces Deposits Will Be Converted To Digital Tokens To Better Use Instant Transfer Payment System FedNow
At the time, as explained in a video report from Lena Petrova, CPA, citing other reports, Citi tested their new system with other world banks and the Federal Reserve, and found now there were no issues in converting the physical deposits into a digital dollar that then can be instantly transferred. This action indicates that the prospect of a CBDC is much father along than the Federal Reserve had led the public to believe.
Moreover, it was not that long after that JP Morgan-Chase announced a partnership with Fink’s Blackrock to launch a blockchain-based tokenized collateral network, similar to what Citibank had done.
AUTHOR COMMENTARY
When a Mr. Monopoly character like Fink tells you that “this eliminates all corruption by having a tokenized system,” know that the dead opposite is true! Don’t kid me with that cute ruse; as the old saying goes: you don’t hold it, you don’t on it.
I was always and still am skeptically about bitcoin and crypto, and I am even more pessimistic now, especially when he is making a direct comparison to gold and telling me this is a stepping stone for tokenization.
[14] It is naught, it is naught, saith the buyer: but when he is gone his way, then he boasteth. [15] There is gold, and a multitude of rubies: but the lips of knowledge are a precious jewel.
Proverbs 20:14-15
The “crypto bros” for years have been telling us that cryptocurrency is a way to circumvent the central bank death grip, claiming that these decentralized currencies were ways to transact without the banksters and handlers having their thumb on our money, as a way to achieve financial freedom and prosperity. And yet now, Larry Fink is making clear in no uncertain terms that these cryptos and now these crypto ETFs are a trailblazer for even greater enslavement, in the form of CBDCs, tokenization, etc. It was a screw job from day one.
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
The WinePress needs your support! If God has laid it on your heart to want to contribute, please prayerfully consider donating to this ministry. If you cannot gift a monetary donation, then please donate your fervent prayers to keep this ministry going! Thank you and may God bless you.
I like this site so much, saved to bookmarks.
Thanks, I have recently been searching for information approximately this subject for a while and yours is the best I have discovered till now. But, what in regards to the conclusion? Are you certain in regards to the supply?
Lovely website! I am loving it!! Will be back later to read some more. I am bookmarking your feeds also.
Incredible! This blog looks exactly like my old one! It’s on a totally different topic but it has pretty much the same layout and design. Superb choice of colors!
Perfectly pent subject material, appreciate it for information .
Thanks for this post, I am a big big fan of this internet site would like to go on updated.
Some genuinely great articles on this web site, thank you for contribution. “There is one universal gesture that has one universal message–a smile” by Valerie Sokolosky.
Thanks for another informative site. Where else could I get that kind of info written in such a perfect way? I have a project that I’m just now working on, and I’ve been on the look out for such information.
I was reading through some of your articles on this site and I think this web site is real informative! Retain posting.
You have observed very interesting points! ps decent internet site.
I’ve been exploring for a little bit for any high-quality articles or weblog posts on this sort of area . Exploring in Yahoo I eventually stumbled upon this site. Studying this info So i am happy to show that I’ve a very good uncanny feeling I came upon just what I needed. I such a lot definitely will make certain to don’t overlook this web site and provides it a look on a constant basis.
Its like you read my mind! You appear to know so much about this, like you wrote the book in it or something. I think that you can do with a few pics to drive the message home a bit, but instead of that, this is magnificent blog. A fantastic read. I’ll certainly be back.
I got what you mean ,bookmarked, very decent web site.
Along with the whole thing which seems to be developing within this specific subject material, your viewpoints tend to be quite stimulating. On the other hand, I beg your pardon, but I do not give credence to your whole idea, all be it stimulating none the less. It appears to everybody that your commentary are not completely rationalized and in simple fact you are generally your self not thoroughly convinced of the point. In any case I did take pleasure in reading through it.
great issues altogether, you simply won a new reader. What would you recommend in regards to your submit that you made some days in the past? Any sure?
I do accept as true with all the ideas you have introduced to your post. They are really convincing and can certainly work. Nonetheless, the posts are too short for starters. Could you please lengthen them a bit from next time? Thanks for the post.
Thanks for every other great post. Where else may just anybody get that type of information in such an ideal means of writing? I have a presentation subsequent week, and I am at the search for such information.
Those are yours alright! . We at least need to get these people stealing images to start blogging! They probably just did a image search and grabbed them. They look good though!
Yay google is my world beater helped me to find this great web site! .
I’ve been absent for some time, but now I remember why I used to love this blog. Thank you, I will try and check back more frequently. How frequently you update your web site?
Woh I like your blog posts, saved to my bookmarks! .
Greetings! Very helpful advice on this article! It is the little changes that make the biggest changes. Thanks a lot for sharing!
Enjoyed reading through this, very good stuff, thankyou.
I’m also writing to make you understand of the superb experience my friend’s daughter found using yuor web blog. She discovered numerous details, with the inclusion of how it is like to have a marvelous giving mindset to get other people without problems thoroughly grasp certain specialized matters. You undoubtedly surpassed my expected results. Many thanks for providing the beneficial, trustworthy, informative and in addition fun guidance on this topic to Janet.
It is best to participate in a contest for among the best blogs on the web. I’ll advocate this web site!
I and also my guys happened to be examining the great tactics from your website and unexpectedly came up with an awful suspicion I had not thanked the site owner for those tips. Those men ended up as a consequence joyful to see all of them and now have very much been enjoying these things. Appreciation for truly being so accommodating and then for finding such incredibly good useful guides most people are really eager to know about. My very own honest regret for not expressing appreciation to earlier.
I know this if off topic but I’m looking into starting my own blog and was wondering what all is needed to get setup? I’m assuming having a blog like yours would cost a pretty penny? I’m not very internet savvy so I’m not 100 certain. Any recommendations or advice would be greatly appreciated. Appreciate it
superb post.Ne’er knew this, regards for letting me know.
I like the helpful information you provide in your articles. I’ll bookmark your blog and check again right here frequently. I am relatively sure I will be told many new stuff right here! Good luck for the next!
Write more, thats all I have to say. Literally, it seems as though you relied on the video to make your point. You obviously know what youre talking about, why waste your intelligence on just posting videos to your blog when you could be giving us something enlightening to read?
SleepLean is not your typical fat burner, it works with your body’s natural sleep cycle to help: Boost overnight metabolism, Balance hormones like cortisol (the belly fat hormone), Curb late-night cravings, Promote deep, restorative sleep
Wow! Thank you! I always wanted to write on my site something like that. Can I take a portion of your post to my site?
Generally I don’t read article on blogs, but I would like to say that this write-up very forced me to try and do it! Your writing style has been surprised me. Thanks, quite nice article.
SleepLean is not your typical fat burner, it works with your body’s natural sleep cycle to help: Boost overnight metabolism, Balance hormones like cortisol (the belly fat hormone), Curb late-night cravings, Promote deep, restorative sleep
of course like your website however you have to test the spelling on several of your posts. Several of them are rife with spelling problems and I in finding it very bothersome to tell the reality then again I?¦ll surely come back again.
Thanks for a marvelous posting! I really enjoyed reading it, you could be a great author.I will always bookmark your blog and may come back in the future. I want to encourage you to continue your great posts, have a nice afternoon!
I have read some good stuff here. Certainly worth bookmarking for revisiting. I wonder how much effort you put to create such a wonderful informative site.
Keep functioning ,splendid job!
The Pink Salt Trick is a minimalist but effective morning routine: Just drink a glass of lukewarm water mixed with a pinch of Himalayan pink salt as soon as you wake up.
Keep up the great piece of work, I read few articles on this website and I conceive that your web site is really interesting and holds sets of superb information.
After study just a few of the weblog posts in your web site now, and I actually like your way of blogging. I bookmarked it to my bookmark web site list and will likely be checking again soon. Pls check out my website as effectively and let me know what you think.
The Pink Salt Trick is a minimalist but effective morning routine: Just drink a glass of lukewarm water mixed with a pinch of Himalayan pink salt as soon as you wake up.
I’ve been exploring for a little for any high-quality articles or weblog posts on this kind of space . Exploring in Yahoo I ultimately stumbled upon this web site. Reading this information So i am satisfied to convey that I’ve an incredibly excellent uncanny feeling I came upon exactly what I needed. I so much unquestionably will make certain to do not overlook this site and give it a glance on a constant basis.
You are a very intelligent person!
Today, while I was at work, my sister stole my iphone and tested to see if it can survive a 25 foot drop, just so she can be a youtube sensation. My iPad is now destroyed and she has 83 views. I know this is entirely off topic but I had to share it with someone!
I wish to express some appreciation to the writer for bailing me out of such a condition. Right after scouting throughout the world-wide-web and getting notions that were not helpful, I believed my entire life was well over. Being alive devoid of the answers to the difficulties you’ve fixed as a result of your entire posting is a serious case, as well as the ones that could have badly damaged my career if I hadn’t encountered your blog post. Your personal understanding and kindness in maneuvering every item was useful. I don’t know what I would have done if I hadn’t come across such a thing like this. I’m able to at this time look forward to my future. Thanks very much for your professional and result oriented help. I will not think twice to recommend the sites to anybody who should have tips about this subject matter.
This design is spectacular! You most certainly know how to keep a reader entertained. Between your wit and your videos, I was almost moved to start my own blog (well, almost…HaHa!) Fantastic job. I really enjoyed what you had to say, and more than that, how you presented it. Too cool!
You actually make it seem really easy along with your presentation but I to find this topic to be really one thing which I think I might by no means understand. It sort of feels too complex and extremely vast for me. I’m having a look ahead in your next submit, I will try to get the dangle of it!
The Pink Salt Trick is a minimalist but effective morning routine: Just drink a glass of lukewarm water mixed with a pinch of Himalayan pink salt as soon as you wake up.
Needed to put you this little observation to thank you so much over again for all the nice methods you’ve documented above. This has been simply particularly generous with you to allow without restraint what exactly a number of people could possibly have marketed as an e-book to end up making some profit on their own, mostly considering that you might well have done it if you ever decided. These thoughts also acted as the great way to comprehend many people have a similar dream similar to my very own to find out many more related to this condition. I’m certain there are some more pleasurable occasions up front for many who examine your website.