The Global Impact of Bitcoin ETFs: U.S. SEC Policy Adjustments and the Asian Market Effect of Hong Kong Spot ETFs
The cryptocurrency landscape underwent a transformative shift in 2024 with the U.S. Securities and Exchange Commission (SEC) approving spot Bitcoin exchange-traded funds (ETFs), and Hong Kong launching its own spot Bitcoin ETFs. These developments have significantly influenced global crypto markets, particularly affecting investor behavior in Europe and North America. U.S. SEC's Approval of Spot Bitcoin ETFs: A Milestone in Crypto Adoption Historical Context and Regulatory Shift After years of deliberation and multiple rejections, the SEC approved 11 spot Bitcoin ETFs in January 2024, including offerings from major financial institutions like BlackRock, Fidelity, and Grayscale. This decision marked a significant regulatory shift, providing investors with a regulated avenue to gain exposure to Bitcoin without directly holding the cryptocurrency. Market Response and Institutional Involvement The approval led to a surge in Bitcoin's price, which more than doubled in 2024, reachin...