• The SEC has approved BlackRock’s and other trillion-dollar giants’ Bitcoin Spot ETF applications, causing the BTC price to surge to $46,079.
• Trading will start tomorrow morning, with BlackRock ready to inject $2,000,000,000 into its iShares Bitcoin ETF.

After Gary Gensler’s Twitter account was hacked, causing an initial stir with a fake announcement of Bitcoin ETF approval, the SEC has now officially approved BlackRock’s Bitcoin ETF application, as well as those from other asset managers like Ark Invest and Fidelity.

Trading is set to commence tomorrow morning, exactly within the timeframe predicted by many insiders. In light of this, there are no significant surprises, with the only disruption being the Twitter hack of SEC Chair Gary Gensler, which caused some temporary unrest and confusion.

The following Bitcoin Spot ETFs have received SEC approval:

• BlackRock’s iShares Bitcoin Trust
• Valkyre Bitcoin Fund
• Fidelity Wise Origin Bitcoin
• Invesco Galaxy Bitcoin ETF
• Bitwise Bitcoin ETF
• Ark 21Shares Bitcoin ETF
• Franklin Bitcoin ETF
• VanEcke Bitcoin Trust
• List will be updated.

BlackRock has already earmarked $2 billion for their Bitcoin ETF. As previously reported, BlackRock successfully raised over $2,000,000,000 billion in a funding round expected to flow into their Bitcoin ETF over the next few trading days.

Additionally, VanEck has $75,000,000 at the ready, while Pantera Capital has $200,000,000 similar to BlackRock, awaiting investment in their respective Bitcoin ETFs. While these amounts may appear relatively small compared to Bitcoin’s total market capitalization of nearly $906 billion, these companies manage trillions and rank among the world’s largest asset managers.

BlackRock alone boasts assets under management exceeding $$10,000,000,000,000. Though there is no certainty of a massive influx of capital into Bitcoin and the broader market, these sums are substantial. Even if only 0.1% of this capital were to enter the Bitcoin market, it would have a significant positive impact.

At the time of writing, Bitcoin is priced at $46,079.

However, it remains to be seen in which direction the Bitcoin price will evolve and whether it will result in a bullish scenario or a bearish one, akin to a “sell the news event.”