“We're So Back”: Trading Industry Reacts to Bitcoin ETF Approval

<p dir="ltr">“This is a pivotal moment that legitimizes Bitcoin’s future,” said LMAX Group’s CEO, David Mercer, after the Securities and Exchange Commission approved 11 Bitcoin exchange-traded fund (ETF) applications.</p><p dir="ltr">The crypto industry has received the much-anticipated approval for a spot Bitcoin ETF in the United States. Although only 11 companies were approved to list a Bitcoin ETF, the regulatory decision could benefit the entire industry.</p><p dir="ltr">The Industry Reacts</p><p dir="ltr">Following the decision yesterday (Wednesday), the big and small personalities of the crypto industry have poured into social media with enthusiasm.</p><p dir="ltr">“We're so back,” wrote Matt Hougan, the CIO at Bitwise, one of the companies receiving the SEC’s <a href="https://www.financemagnates.com/cryptocurrency/breaking-the-sec-approves-spot-bitcoin-etf/">approval for a Bitcoin ETF</a>. Bitwise confirmed that it will list its Bitcoin ETF on NYSE Arca on Thursday.</p><blockquote><p lang="en" dir="ltr">We're so back.</p>— Matt Hougan (@Matt_Hougan) <a href="https://twitter.com/Matt_Hougan/status/1745196965191729614?ref_src=twsrc%5Etfw">January 10, 2024</a></blockquote><p dir="ltr">“It's hard to fully capture how big today is for bitcoin,” Hougan said in another statement, adding: “But ‘game-changer,’ ‘sea change,’ or ‘turning point’ get closest. For more than a decade, investors who wanted to access the <a href="https://www.financemagnates.com/cryptocurrency/sec-approves-11-bitcoin-etfs-listing-and-trading-will-start-today/">world's largest crypto asset</a> had to wrestle with how to own it. For many mainstream investors, that hurdle is now gone.”</p><blockquote><p lang="en" dir="ltr">Bitwise will donate 10% of the profits of the Bitwise Bitcoin ETF (ticker: BITB) to bitcoin open-source development.Recipient orgs:- <a href="https://twitter.com/bitcoinbrink?ref_src=twsrc%5Etfw">@BitcoinBrink</a>- <a href="https://twitter.com/OpenSats?ref_src=twsrc%5Etfw">@OpenSats</a>- <a href="https://twitter.com/HRF?ref_src=twsrc%5Etfw">@HRF</a>Bitcoin is important to the future. We're excited for <a href="https://twitter.com/search?q=%24BITB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BITB</a> to support its foundation