Discussion

• @grayscale @grayscale on x

  We expect $GBTC will commence trading as an ETF tomorrow, January 11, capping off over a decade of careful planning and hard work. For important info & disclosures, visit: https://grayscale.com/gbtc - Grayscale Bitcoin Trust (BTC) (the “Trust") has filed a registration statement.…

• @gopmajoritywhip Tom Emmer on x

  Here to stay. This is a result of an emerging industry fighting for the future of this country against tremendous odds and prevailing over the tyrannical bureaucratic roadblocks. https://www.sec.gov/...

• @bitwiseinvest @bitwiseinvest on x

  Bitwise will donate 10% of the profits of the Bitwise Bitcoin ETF (ticker: BITB) to bitcoin open-source development. Recipient orgs: - @BitcoinBrink - @OpenSats - @HRF Bitcoin is important to the future. We're excited for $BITB to support its foundation 👇 [image]

• @repjohnrose Congressman John Rose on x

  Today's decision by the @SECGov to approve a spot Bitcoin ETF is a significant step forward for digital assets in the United States. It's clear that the American people have a desire to invest in this new technology, and our laws and regulations should reflect and welcome that...

• @ryansadams Ryan Sξan Adams on x

  Gary Gensler didn't want bitcoin to have an ETF. Neither did Elizabeth Warren and the anti-crypto army. But today we have a bitcoin ETF. They can try to slow it down but they can't stop it. Crypto is inevitable.

• @jbrukh Jake Brukhman on x

  The crypto space reluctantly accepted the government's approval of the Bitcoin spot ETFs today, knowing that the cash fiat involved in purchasing such shares is also used for fraud, drugs, money laundering, and corruption.

• @3orovik @3orovik on x

  Gary is too ashamed to tweet the ETF news

• @econoar @econoar on x

  An ETH ETF approval could come as soon as May. [image]

• @demirelo @demirelo on x

  “Perhaps the one silver lining here is now that we know that the Commission can execute a robust correlation analysis, perhaps the road to approving other spot crypto ETPs will not be as bumpy...” 🙏

• @pythianism Vance Spencer on x

  This is the most important part of the BTC ETF approval Makes me believe the spot ETH ETF is in the bag for the exact same reason. Futures = Spot. If you have a futures ETF, a Spot ETF makes logical sense to approve. The SEC's own words.

• @punk6529 @punk6529 on x

  ETF/ETPs are good thing and a big accomplishment and all those who have worked on this should be proud. It will reduce the risk of a ban and it will probably make number go up. But ETFs are fully centralized and we have to keep our eye on the ball on self-custody.

• @propelforward Drew Hinkes on x

  Always read @HesterPeirce's statements on any commission action. Holy Moly. https://sec.gov/... [image]

• @daveweisberger1 Dave Weisberger on x

  That dissent is so badly written, filled with logical and factual errors, that its author should be instantly disqualified for any job involved in financial markets. It repeats the same arbitrary and capricious arguments rejected by multiple judges, ignores the harms caused to...

• @twobitidiot Ryan Selkis on x

  The risk of electing a Dem POTUS and Dem Senate cannot be overstated. End of crypto in the U.S. until 2030 if things go the wrong way. Stay vigilant. [image]

• @stevennerayoff Steven Nerayoff on x

  I commend @HesterPeirce's rebuke of the multi-year debacle of the SEC's evaluation of spot BTC ETFs. Perhaps being the voice of reason & expressing these well-stated criticisms earlier may have helped the process rather than commiserating after the fact as she did in @LBRYcom

• @johnedeaton1 John E Deaton on x

  Her best letter. I think we are witnessing true frustration turning into anger. Frustration from lost opportunity. Anger because the reputation of the SEC has been damaged for more than a decade.

• @hesterpeirce Hester Peirce on x

  It's out: https://www.sec.gov/...

• @aubreystrobel Aubrey Strobel on x

  “11 spot bitcoin ETFs!?” “Liz, I did the best I could...okay.” [image]

• @neerajka Neeraj K. Agrawal on x

  Commissioner Peirce on the harms caused by dragging out Bitcoin ETF approval for years [image]

• @shaunmmaguire Shaun Maguire on x

  I wanted to wait a bit to make sure this was legit (no more 2FA snafu's 😅) But it seems like, indeed, Bitcoin ETFs have finally been approved! This is a monumental step towards legitimizing bitcoin, and crypto more broadly Thank you for getting this right 🙏👏

• @s_alderoty Stuart Alderoty on x

  Comm. Peirce is *spot* on. This long overdue approval comes only because the courts checked an out of control regulator. Gensler's battle royal against crypto has turned the SEC into a caricature not to be trusted by the public, policy makers or judges.

• @dougielarge Doug Cifu on x

  Elections have consequences. Imagine if this brilliant talented public servant was Chair of the SEC. One can only hope and pray. 🙏 It will take years to undo the harm that Gensler has brought to the Commission and to markets. Thank you for stating it so eloquently...

• @tusharjain_ Tushar Jain on x

  Commissioner Peirce's statement on the Bitcoin ETF is scathing. [image]

• @bitcoinpierre Pierre Rochard on x

  A Bitcoin ETF offers a convenient and accessible avenue for traditional investors to gain price exposure to #btc, but it lacks the essence of what makes Bitcoin truly revolutionary: self-sovereignty and decentralization. The epitome of Bitcoin use is holding your own keys and...

• @fti_us @fti_us on x

  #NewProfilePic [image]

• @saylor Michael Saylor on x

  Tomorrow #Bitcoin Goes Public https://www.sec.gov/...

• @senlummis Senator Cynthia Lummis on x

  I am thrilled @SECGov granted approval for all 11 #Bitcoin spot exchange traded funds. Read my full statement ⬇️ [image]

• @gaborgurbacs Gabor Gurbacs on x

  We won. Never gave up. #Bitcoin #ETF [image]

• @defisquared @defisquared on x

  Let me be clear: we just won a decade long fight to make Bitcoin mainstream and available to investor portfolios worldwide. If you're not long crypto right now because you convinced yourselves some people would take profit today, then I really don't know what to tell you.

• @pentosh1 @pentosh1 on x

  Two things I was pretty vocal about or talked about, and one thing I don't know. 1. To just own spot $BTC as people would have to take the same trade and less people would be willing to sell the closer we got to approval. Less for sell, more people forced to buy 2nd. Upon a BTC..…

• @fintechfrank Frank Chaparro on x

  FIDELITY HEAD OF DIGITAL ASSET MANAGEMENT “We've long believed a spot-priced exchange traded-product would be an efficient way for investors to gain exposure to bitcoin ... As a firm, we remain committed to meeting the growing demand from investors by providing them with tools...

• @snowden Edward Snowden on x

  #Bitcoin ETFs were (finally) just approved for trading tomorrow, after ten years. Maybe the politics in Congress around cryptocurrency will get better once they realize it's backstopping pension funds and retirement accounts.

• @campbelljaustin Austin Campbell on x

  I know @JanvanEck3 personally, and I want to commend him for being an ethical, sober supporter of this space. It's an honorable thing to do to honestly point out competitors who are also helping the space. I would diversify my exposure to BTC ETFs, but Van Eck would be one.

• @janvaneck3 Jan van Eck on x

  I appreciate that many bitcoin ETFs are coming to market tomorrow. One way to decide which ETF to use is to consider the commitment of the sponsors.👇

• @sherlock_hodles @sherlock_hodles on x

  BlackRock submitting their ETF application [video]

• @nitwitty @nitwitty on x

  I remember saying what a huge deal this would be back when I worked at the @nyse over a decade ago... So much innovation in crypto investing has happened in that time and it's truly exciting to see some SEC-blessed access

• @daancrypto @daancrypto on x

  Now this is what people mean when they talk about something being priced in. Biggest event in history but we worked towards it in the most gradual multi-month progress ever and price went up almost 100% during that time. Market becoming more efficient 👍 [image]

• @tradermercury @tradermercury on x

  So let's recap: - rally started from fake ETF approval months ago - later, SEC twitter compromised and tweets fake ETF approval - FUD about CBOE “withdrawing” from Spot ETF - Spot ETF approved early - Approval PDF taken down, likely to be rereleased per initial schedule A... [ima…

• @ericbalchunas Eric Balchunas on x

  True, now the race begins, but that's going to be more normal tracking of flows volume new launches etc unlike this emotional roller coaster many of us have been held hostage by for 6mo, and especially last two days. We're free now. [image]

• @tradermayne Mayne on x

  So technically we can now call ourselves institutional investors right?

• @adamscochran Adam Cochran on x

  Today is a huge milestone for crypto, as blockchain assets get the institutional treatment. But the next goal is for us to give institutions the blockchain treatment. A generation of fair, transparent and decentralized institutions to replace the broken legacy financial system.

• @barrysilbert Barry Silbert on x

  Proud moment for me. Will forever be grateful to @Sonnenshein, @CraigSalm, the @Grayscale team and the long list of lawyers and advisors that fought the fight and made this happen. Congrats to all involved Go $GBTC!

• @iampaulgrewal @iampaulgrewal on x

  This is a big deal. But keep in mind this almost didn't happen. 1/3

• @lsdinmycoffee @lsdinmycoffee on x

  I hate to be like I told you so But...I told you so Last night's “early announcement” acted like a proper announcement

• @hhorsley Hunter Horsley on x

  Meet $BITB, the Bitwise Bitcoin ETF — The lowest cost Bitcoin ETF in America. https://www.businesswire.com/ ... To view BITB's disclosures and prospectus, visit https://bitbetf.com/welcome [image]

• @fintechfrank Frank Chaparro on x

  Interesting sidebar: Grayscale's GBTC has been on the market as a reporting company to the SEC for longer than a year so they aren't going to be required to link their prospectus in marketing materials post upgrade (which everyone else will be required to do). Insider source at..…

• @jseyff James Seyffart on x

  Anyone worried that this was a potential fakeout again. NOPE. The 19b-4 approval order has officially hit the SEC front facing part of the website: [image]

• @jseyff James Seyffart on x

  Can pretty much guarantee that the SEC did not intend for anyone outside the SEC to get their hands on this document/link yet I can confirm that I downloaded the document from the https://sec.gov/ website. And its an approval order. Assume the SEC will repost shortly.

• @cburniske Chris Burniske on x

  Amusing that on $BTC ETF approval day, $ETH is rallying more than $BTC - gotta love markets 🥳 [image]

• @cgasparino Charles Gasparino on x

  There's going to be a book on the shit show surrounding the @SECGov's rollout of these bitcoin ETFs; first last night's weirdness on the hack; then consider what happened today: @CBOE says it's done; then rescinds its announcement. Then just now @SECGov says it's done, and it...

• @grayscale @grayscale on x

  Huge news: Today, the SEC approved NYSE Arca's application pursuant to Rule 19b-4 under the Securities Exchange Act of 1934 to list the shares of Grayscale Bitcoin Trust on NYSE Arca under Ticker $GBTC AND declared $GBTC's registration statement on Form S-3 effective. (1/5) [imag…

• @collins_belton Collins Belton on x

  With the Bitcoin ETF news now official, I think it's important to recognize how critical it was for Grayscale to be willing to go to the mat and engage our judicial process for us to get here. @GaryGensler essentially concedes as much in his statement: https://www.sec.gov/... [im…

• @nategeraci Nate Geraci on x

  Alright, that's enough of spot bitcoin ETFs... Wen spot ether ETFs?

• @fintechfrank Frank Chaparro on x

  A riveting and electric quote from the BlackRock team on their spot BTC ETF approval: [image]

• @jbsdc Justin Slaughter on x

  There's going to be a lot of talk about ETF approvals/what they mean for crypto, but the real information in the ETF approval is this: the SEC did an analysis and found that Bitcoin futures market correlated 98.4% to spot hourly. So the SEC agrees now that it's all one market. [i…

• @mattomattik @mattomattik on x

  We don't need them, but they done a ETF because we became enought releavant so they need a part of our market, that poetic [video]

• @tree_of_alpha @tree_of_alpha on x

  Gary Gensler butchered this announcement so hard everyone is doubting it's real. The First Bitcoin Spot ETFs have been approved and no one is believing it. Congrats on this you old crooked bald shit, you screwed Crypto over until the very end, like you intended to.

• @teeznutz11 @teeznutz11 on x

  The sentiment reaction to the approval is like when she's already made you nut 3 times and by the end you're shooting pure dust [image]

• @balajis Balaji on x

  HISTORY IS RUNNING IN REVERSE The Bitcoin ETF is the spiritual reversal of Executive Order 6102. Back in 1935, they seized the gold. But now, digital gold is back. Ninety years ago, FDR and his fellow travelers rode the 20th century arc of centralization. The chokepoints of... [i…

• @neuralinkdb @neuralinkdb on x

  I imagine CBOE, who were the only exchange that filed 8A CERT's and said “trading tomorrow”, were told off by SEC and asked to withdraw and refile after official green light.

• @davidsacks David Sacks on x

  Congrats to @HHorsley and the @BitwiseInvest team on launching the first and cheapest Bitcoin ETF. When Hunter first pitched this idea back in 2018, I thought it was clearly the future, but it took 6 long years to get SEC approval. Happy to be a seed investor.

• @laurashin Laura Shin on x

  Some key quotes from @HesterPeirce's 🔥🔥🔥 statement on the approval of spot Bitcoin ETFs (honestly makes me wonder if it's ever awkward in the SEC office 😂): “Today marks the end of an unnecessary, but consequential, saga.” “For reasons I have explained many times before,...

• @nategeraci Nate Geraci on x

  By far, my favorite part of the approval order... “The Commission is able to conclude that fraud or manipulation that impacts prices in spot bitcoin markets would likely similarly impact CME bitcoin futures prices.” Thank you. [image]

• @fintechfrank Frank Chaparro on x

  “I am happy to confirm that the Grayscale team has received necessary regulatory approvals to uplist GBTC to NYSE Arca, and we will share a press release with additional information shortly” ~ Grayscale spokesperson

• @tree_of_alpha @tree_of_alpha on x

  One of the biggest stock exchanges in the US couldn't help itself and had to pre-announce listing before it was official. If this isn't Crypto I don't know what is.

• @eleanorterrett Eleanor Terrett on x

  🚨NEW: Turns out the @SECGov DID hold a vote on the $BTC Spot ETFs. Here's the voting breakdown: Gensler: Approved Peirce: Approved Uyeda: Approved Crenshaw: Not Approved Lizárraga: Not Approved [image]

• @iampaulgrewal @iampaulgrewal on x

  We should all be grateful to @Grayscale for pushing back against the SEC's arbitrary and capricious behavior, and clearing the way to get these spot BTC ETFs over the finish line. And of course to the DC Circuit, for affirming that the rule of law must prevail over politics. 2/3

• @adamscochran Adam Cochran on x

  This is what a reasonable regulator (and someone capable of their job) looks like. A fair and balanced application of the law, and a willingness to self-critique. Respect. 🫡

• @dogetoshi Steven on x

  They only approved it cuz they lost. [image]

• @laurashin Laura Shin on x

  💥 Commissioner Mark Uyeda also has strong words for the SEC — it's wonkier, but starts: I have strong concerns with three aspects of the order (the “Approval Order"): [2] 1) The Approval Order improperly attempts to validate the application of the “significant size” test to...

• @brian_armstrong Brian Armstrong on x

  .@Grayscale deserves a huge amount of credit for today, pushing this through the courts Absolute legends

• @riabhutoria Ria Bhutoria on x

  Hester Peirce quoting Lady Macbeth in the title of an official SEC statement is why she is the GOAT [image]

• @nategeraci Nate Geraci on x

  And to Eric's point, regardless of what you think about Grayscale... This particular “conclusion” by the SEC was the thrust of Grayscale's case, which they won. They paved the regulatory path for everyone else. https://x.com/...

• @brian_armstrong Brian Armstrong on x

  “[W]e have alienated a generation of product innovators within our space. Our unreasonable approach to these applications has signaled that regulatory prejudice against new products and services can lead us to sidestep the law and unreasonably delay product launches. The industry…

• @laurashin Laura Shin on x

  Finally Commissioner Caroline Crenshaw released a statement that she disagrees with the approval order: The Global Spot Markets Underlying the Bitcoin ETPs are Marred by Fraud and Manipulation, Concentrated, and Without Adequate Oversight “Fraud and manipulation that impacts...

• @kamikaz_eth @kamikaz_eth on x

  I like truly cannot believe after all this, two SEC commissioners still voted against the spot ETFs It's like the states removing Trump from the ballot - it's just a total breakdown of government Check and balances, nothing works at all if individuals just stop caring about law

• @fintechfrank Frank Chaparro on x

  Wait Gary Gensler approved a spot bitcoin etf? Didn't everyone here say he hated crypto?

• @ericbalchunas Eric Balchunas on x

  Congrats to Grayscale btw, they are why all this happened. They fought the law and won. Even so I was doubtful they'd make it to starting gate but they have. Now I owe @JSeyff and @NateGeraci a sushi lunch.

• @adamscochran Adam Cochran on x

  Has anyone updated Gensler's Wikipedia page yet, so it is always known that he is the one who approved Bitcoin ETFs? I'm sure he'd hate that! 😁

• @nic__carter @nic__carter on x

  it was the judicial system that did this despite the best efforts of the executive. the courts are our friends.