January 10, 2024
SEC approves spot Bitcoin ETFs
The U.S. SEC approved spot BitcoinThe first decentralized cryptocurrency — a proof-of-work blockchain without a central issuer. exchange-traded funds on January 10, 2024 — letting mainstream investors hold BTC exposure through brokerage accounts.
What it was for
BlackRock, Fidelity, and other issuers listed ETFs that track bitcoin spot prices, routing billions from pensions and retail into custodied BTC. The decision ended a decade-long regulatory fight and linked TradFi portfolios directly to crypto's oldest asset.
Why it's here
Spot BitcoinThe first decentralized cryptocurrency — a proof-of-work blockchain without a central issuer. ETFs bridged Wall Street and on-chain BTC for the first time at scale.
Why it mattered
It legitimized bitcoin as an institutional asset class in US markets.
What it solved
Investors wanted BTC exposure without managing private keyA secret cryptographic key kept by one party — used to decrypt or sign data; must never be shared.s or unregulated exchanges.
Media
- ImageBitcoin
Bitboy, Public domain, via Wikimedia Commons
Related
- Bitcoin genesis block minedJanuary 3, 2009
- Coinbase foundedJune 2012
- Bitcoin whitepaper publishedOctober 31, 2008