Bitcoin

Steve

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<p>The U.S. Securities and Exchange Commission (SEC) has approved several spot Bitcoin exchange-traded funds (ETFs), marking a major milestone for the industry.</p>
<p>This move has been met with enthusiastic response from key industry figures, including Ripple CEO Brad Garlinghouse, who hailed the decision as a monumental step towards the legitimization of cryptocurrencies as an asset class. "The significance of this moment cannot be overstated," he <a href="https://twitter.com/bgarlinghouse/status/1745203146543026655" rel="noopener noreferrer nofollow">said</a>.&nbsp;</p>
<h2 id="a-new-era-for-crypto-investing">A new era for crypto investing&nbsp;</h2>
<p>The approval of Bitcoin spot ETFs, including notable trusts is poised to transform the investment landscape.&nbsp;</p>
<p>These ETFs provide a more accessible route for investors to gain exposure to Bitcoin by bypassing the complexities and risks associated with direct ownership of the cryptocurrency</p>
<p>Ripple CEO Brad Garlinghouse expressed optimism that this development would act as a catalyst for increased institutional investment and adoption.&nbsp;</p>
<p>He anticipates a shift in focus from speculative trading to broader, real-world applications of cryptocurrency, further solidifying its position as a legitimate asset class.</p>
<p>As <a href="https://u.today/xrp-etf-likely-after-bitcoin-approval-valkyries-investment-chief-says" rel="noopener noreferrer nofollow">reported by U.Today</a>, Steve McClurg, co-founder of Valkyrie Funds, hinted at the likelihood of Ethereum and XRP exchange-traded funds (ETFs) being approved following the launch of Bitcoin spot ETFs. McClurg believes the market is ready for such products.</p>
<h2 id="shattering-records">Shattering records&nbsp;</h2>
<p>The newly approved ETFs are entering a competitive and potentially lucrative market. Bloomberg Intelligence reports that BlackRock’s US spot Bitcoin ETF may set a new record with a predicted $2 billion in assets on its first trading day.&nbsp;</p>
<p>These funds are expected to attract substantial interest, with projections estimating as much as $4 billion in assets on the first day and the potential to amass $50 billion within two years.&nbsp;</p>

Ripple CEO Celebrates SEC Approval

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