Bitcoin ETF Approval: Wall Street's Crypto Watershed Moment and Market Implications
January 10, 2024, marked a watershed moment for cryptocurrency markets when the U.S. Securities and Exchange Commission approved 11 spot Bitcoin exchange-traded funds, ending a decade-long regulatory battle and opening institutional floodgates to the world’s largest cryptocurrency. This historic decision represents more than regulatory capitulation—it signifies crypto’s transformation from speculative asset to mainstream investment vehicle. The approval triggered immediate market reactions, with Bitcoin surging past $49,000 and traditional financial institutions scrambling to offer crypto exposure to clients previously barred from direct investment. Understanding the implications requires examining the approval process, market dynamics, and long-term consequences for both cryptocurrency and traditional finance. ...