Spot ETFs approved
The United States approved spot bitcoin ETFs, and traditional finance could hold the asset at scale through channels it already used.
Watch it happen in “Institutional Crypto” →Why it happened
- 01ETF 把比特币包装成传统市场本来就能买卖的凭证形式。
- 02凭证背后由托管方按份额持有真实资产。
- 03做市机制保证凭证价格跟随标的。
Before · After
Before
An institution holding the asset had to solve custody, compliance and accounting on its own.
After
The barrier to access disappeared, and the seventeen-year-old question of who holds the keys reappeared with it.
Why it matters
The connection was made, but what the buyer holds is a claim, not the asset — the private key went back to a custodian.
Related entities
Sources
- Level A美国现货比特币 ETF 获批
Unverified · SEC 2024 年 1 月 10 日的批准令与相关 19b-4 文件，按发布日期在 sec.gov 检索。