$BNB SECETF Approval: US SEC Approves Bitcoin Spot ETFs - A Milestone Event for the Cryptocurrency Market

In January 2024, the U.S. Securities and Exchange Commission (SEC) officially approved 11 Bitcoin spot ETFs, including products issued by institutions like BlackRock and Fidelity. This decision ended a decade-long tug-of-war and marked the formal entry of cryptocurrencies into mainstream financial markets. Spot ETFs allow investors to hold Bitcoin through traditional stock accounts without the need to directly manage private keys, significantly lowering the entry barriers for institutional and retail investors. After the approval, Bitcoin's price experienced increased short-term volatility, but in the long run, the incremental funds brought by the ETFs are expected to propel the cryptocurrency market into a new phase.