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CITIC Securities' research report suggests that the U.S. Securities and Exchange Commission (SEC) approved the first batch of Bitcoin exchange-traded funds (ETFs) on January 11 (Beijing time), including applications from companies such as BlackRock, Ark Investments, 21Shares, Fidelity, Invesco, and VanEck. In terms of investment strategy, the increased liquidity is expected to bring short-term prosperity to the cryptocurrency market in the first half of 2024. For cryptocurrency exchanges, the introduction of Bitcoin ETFs may impact their existing commission income. For major exchanges acting as the spot custodians for ETFs, the anticipated loss in commission revenue is expected to be compensated through custody services, and they are likely to benefit in the long term from the rising value of traded currencies. |
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Post time 20-1-2024 07:33:47