From Choice

Spot #Bitcoin ETF Approval

As a follow-up on our previous market news notes, The SEC has officially approved the spot Bitcoin ETFs for all 11 filers, including BlackRock, Grayscale, and others (for real this time).

The approval, retraction, and now re-approval has driven a lot of volatility over the past 2 days, with Bitcoin surging up to nearly $48,000 on the initial approval and down below $45,000 after the SEC retracted their post on X.

For historical context as to why investors are excited about the approval, after a gold ETF was first approved in 2004 the price of gold increased by 346% over the next 7 years.