• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Companies Corporate Updates

How will the SEC’s approval of the Bitcoin ETF affect investors?

NM Partners by NM Partners
January 23, 2024
in Corporate Updates
Bitcoin
Share on FacebookShare on TwitterShare on Linkedin
  • The U.S. Securities and Exchange Commission’s (SEC) approval of the launch of 11 bitcoin exchange-traded funds (BTC ETFs) surged in bitcoin trading volumes.
  • On the first day of the launch of trading in spot bitcoin ETF units, about 700,000 transactions were made, and the trading volume reached $4.33 billion. Half of this volume, or $2.1 billion, came from Grayscale’s Bitcoin ETF, and another $1 billion came from a fund launched by BlackRock.
  • Bitcoin price consolidation is a good starting point for further growth. The next target is $50,000 by the end of April 2024.

The U.S. Securities and Exchange Commission (SEC) has approved the launch of 11 bitcoin exchange-traded funds (BTC ETFs) on 10 January 2024.

The authorisation to create exchange-traded bitcoin ETF funds is a key regulatory move that will make it easier for ordinary investors to put their money into the digital currency and spur its continued growth. The commission had previously withheld approval for ten years.

The SEC’s decision is an important milestone for the cryptocurrency industry as the spot bitcoin ETFs allow investors to access bitcoins directly without owning them by buying shares of these funds, which buy bitcoins directly.

RelatedStories

Bitcoin

Bitcoin soars past $121K, smashing records with no end in sight

July 14, 2025
Crypto is now legit — Will Nigeria’s financial institutions adapt or burn? | Drinks & Mics ft Buchi Okoro

Crypto is now legit — Will Nigeria’s financial institutions adapt or burn? | Drinks & Mics ft Buchi Okoro

July 12, 2025

However, while it is a good tool for investors, it is not for traders, according to Kar Yong Ang, analyst at Octa. ‘Investing in spot bitcoin ETFs is different from buying bitcoins directly for several reasons. Firstly, investors who invest in bitcoin ETFs do not own bitcoins directly.

Secondly, financial companies will charge a commission for trading and managing bitcoin ETFs.’ ‘In contrast, people who buy bitcoins directly through brokers only pay a transaction fee, and there are no investment management costs’, he added.

Investors are relying on the emergence of spot bitcoin ETFs to pump billions of dollars into the digital currency, making investing more accessible and less intimidating.

Thus, as demand for Bitcoin rises, so will its price, which is likely to spur more investment and interest in the cryptocurrency. Increased investment in bitcoins, combined with the introduction of new products from reputable financial players, may also accelerate the adoption of sensible regulations aimed at eliminating fraud and normalising cryptocurrency to invest, make payments and, more broadly, conduct business.

As we can see, investors’ expectations are being met. On the first day of the launch of trading in spot bitcoin ETF units, about 700,000 transactions were made, and the trading volume reached $4.33 billion. Half of this volume, or $2.1 billion, came from Grayscale’s bitcoin ETF, and another $1 billion came from the fund launched by BlackRock.

In the first hours after the trading launch, bitcoin’s price approached $49,000, but the cryptocurrency failed to consolidate above this level. Some investors expectedly preferred to lock in profits and sell coins, which pressured the bitcoin rate and restrained its growth. Nevertheless, on higher timeframes, the overall uptrend looks stable. The growth of BTC prices from the inflow of institutional capital will be less rapid and manifest itself in the long term.

The bitcoin price consolidation is a good starting point for further gains. Traders should look for bitcoin buying opportunities before the bitcoin halving procedure, which will take place around the beginning of April,’ said Kar Yong Ang, the Octa financial market analyst. He added that In such a situation, bitcoin could resume growth and overcome the critical resistance level of $50,000 by the end of April 2024.l

Octa is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services already utilised by clients from 180 countries with more than 42 million trading accounts. Free educational webinars, articles, and analytical tools they provide help clients reach their investment goals.

The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.

Octa has also won over 60 awards since its foundation, including the ‘Best Educational Broker 2023’ award from Global Forex Awards and the ‘Best Global Broker Asia 2022’ award from International Business Magazine.

 


Follow us for Breaking News and Market Intelligence.
Tags: BitcoinSEC
NM Partners

NM Partners

"NM Partners" encompasses a diverse range of articles and content published on behalf of various organizations, including corporate entities, government and non-governmental institutions, academic bodies, and key stakeholders in the economic sphere. This content spectrum covers press releases, formal announcements, specialized content, product promotions, and a variety of corporate communications tailored to engage our readership. Notably, a portion of these articles are sponsored content. At Nairametrics, while we provide a platform for these diverse voices, it is important to clarify that our relationship with the content under "NM Partners" does not imply endorsement or affiliation. The responsibility for the content accuracy and viewpoints expressed rests solely with the respective contributors. Nairametrics maintains a firm commitment to editorial independence and integrity. Consequently, we do not assume responsibility for any of the content published under "NM Partners." For any inquiries, comments, or feedback regarding the content featured in this section, we encourage open communication and can be reached at info@nairametrics.com. Additionally, we invite our readers and contributors to familiarize themselves with our Paid Post Guidelines, which outline the standards and processes governing paid content on our platform.

Related Posts

Bitcoin
Cryptos

Bitcoin soars past $121K, smashing records with no end in sight

July 14, 2025
Crypto is now legit — Will Nigeria’s financial institutions adapt or burn? | Drinks & Mics ft Buchi Okoro
Digital Media

Crypto is now legit — Will Nigeria’s financial institutions adapt or burn? | Drinks & Mics ft Buchi Okoro

July 12, 2025
Bitcoin
Cryptos

Bitcoin blasts past $118K, short sellers lose $1.25 billion   

July 11, 2025
Bitcoin
Cryptos

Bitcoin surges to record $112K amid institutional demand 

July 10, 2025
EFCC arraigns 2 CBEX promoters for promising Nigerians 88% investment returns without SEC consent 
Legal & Regulations

EFCC arraigns 2 CBEX promoters for promising Nigerians 88% investment returns without SEC consent 

July 7, 2025
Bitcoin
Cryptos

Bitcoin shows buyers’ exhaustion, struggles under $108K

June 27, 2025
Next Post
AEDC

Customer files N50 million lawsuit against AEDC for billing errors

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Sterling Bank to raise $400 million via debt and equity instruments to strengthen growth capacity and balance sheet 
  • South-West doctors threaten strike over unfavorable allowances, issue 21-day ultimatum to FG
  • 15 things you don’t need to start a business in Nigeria 

Follow us on social media:

Recent News

Sterling Bank concludes core application migration, leads the way for African Banking

Sterling Bank to raise $400 million via debt and equity instruments to strengthen growth capacity and balance sheet 

July 15, 2025
Doctors

South-West doctors threaten strike over unfavorable allowances, issue 21-day ultimatum to FG

July 15, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics