The 11 spot bitcoin ETFs that have been approved are ARK 21Shares Bitcoin ETF, Bitwise Bitcoin ETF, Fidelity Wise Origin Bitcoin Fund, Franklin Bitcoin ETF, Grayscale Bitcoin Trust, Hashdex Bitcoin ETF, Invesco Galaxy Bitcoin ETF, iShares Bitcoin Trust, Valkyrie Bitcoin Fund, WisdomTree Bitcoin Fund and VanEck Bitcoin Trust.
Analysts months ago began predicting approval by Jan. 10, the deadline for the SEC to either approve or deny a proposed rule change filed with it by the Cboe BZX Exchange to list and trade shares of the ARK 21Shares Bitcoin ETF.
"Today is a monumental day in the history of digital assets," said Samir Kerbage, CIO at Hashdex, in a statement provided by a spokesperson.
"The approval of 19b-4s marks the next phase for the industry by allowing U.S. investors to fully participate in the promise of bitcoin, and we are thrilled to play a leading role in this next wave of growth and innovation."
During a Jan. 10 appearance on Bloomberg ETF IQ, ARK Investment Management CEO Cathie Wood was asked about her expectations for the breakdown of flows into the ARK 21Shares Bitcoin ETF once it's approved.
"We're going after all of these categories and of course our bread and butter historically has been retail, whereas 21Shares has been much more institutional," said Wood, who is also ARK's chief investment officer and founder. Wood was asked what she expected the initial breakdown between retail and institutional investors to be and how that might look in six months' time.
"We're even speaking with state pension funds as well as even some treasurers. So, the interest is far and wide."
When it comes institutions, however, "it's not going to be overnight," she said.
"There are so many boxes to check, so much due diligence," Wood said. "And if the approval takes place, that is for many of them, the starting point for due diligence, so I wouldn't expect overnight success."