For years, the U.S. Securities and Exchange Commission has been hesitant to approve a spot bitcoin ETF, in part out of concerns about market maturity and manipulation. (There are ETFs in the U.S. that own bitcoin futures, but spot ETFs would give investors more direct exposure to bitcoin.) BlackRock, one of the leading firms on Wall Street, simply by showing interest, helped to legitimize the effort and shows there is likely demand for such a product. Several other traditional financial institutions including Fidelity, Franklin Templeton and VanEck, and a bevy of crypto-natives like Bitwise and Hashdex, followed suit in applying to list their own BTC ETFs.
Wall Street’s Biggest Bitcoin (BTC) Believer
