Many companies featured on Money advertise with us. Opinions are our own, but compensation and
in-depth research may determine where and how companies appear. Learn more about how we make money.

  1. Investing
  2. Cryptocurrency

Bitcoin Spot ETF Approval Could Get 'Millions More Investors' Into Crypto

By: Brenden Rearick
Brenden Rearick
Reporter | Joined March 2023
Brenden Rearick is a news reporter for Money who has covered investing and many other personal finance topics for almost four years. He has been a news reporter for Money since March of 2023.
See full bio
Editor: Julia Glum
Julia Glum, expert in the IRS, taxes, credit scores, saving, colleges, mobile payment apps, and News Editor at Money
Julia Glum
News Editor | Joined February 2018
Julia Glum joined Money in 2018 and specializes in covering financial trends that affect everyday Americans' wallets. She also writes Dollar Scholar, a weekly newsletter that teaches young adults how to navigate the messy world of money.
See full bio
Published: Jan 11, 2024 6 min read

Money is not a client of any investment adviser featured on this page. The information provided on this page is for educational purposes only and is not intended as investment advice. Money does not offer advisory services.

Photo-illustration of a gavel hitting a bitcoin, with a graph in the background.
Money; Getty Images

Cryptocurrency investors have a lot to look forward to this year — and 2024 is already starting with a bang, as bitcoin spot ETFs finally got the green light this week.

Fans of the digital currency have fought for the U.S. Securities and Exchange Commission's approval of a bitcoin spot fund for years now. Their day arrived Wednesday, when the SEC approved 11 new cryptocurrency funds. Experts have reason to expect this decision to be a watershed moment for crypto adoption, with Reuters writing before the approval that it'd "throw open the market to millions more investors and draw billions in investments."

Here's what you need to know about the bitcoin spot ETF approval and its ramifications.

Ads by Money. We may be compensated if you click this ad.AdAds by Money disclaimer
Build your ultimate crypto portfolio
Robinhood provides a versatile crypto trading platform suitable for all levels of investors, offering both power and user-friendliness in one space. Start your investment journey today by clicking on your state below!
HawaiiAlaskaFloridaSouth CarolinaGeorgiaAlabamaNorth CarolinaTennesseeRIRhode IslandCTConnecticutMAMassachusettsMaineNHNew HampshireVTVermontNew YorkNJNew JerseyDEDelawareMDMarylandWest VirginiaOhioMichiganArizonaNevadaUtahColoradoNew MexicoSouth DakotaIowaIndianaIllinoisMinnesotaWisconsinMissouriLouisianaVirginiaDCWashington DCIdahoCaliforniaNorth DakotaWashingtonOregonMontanaWyomingNebraskaKansasOklahomaPennsylvaniaKentuckyMississippiArkansasTexas
Start Investing

What is a bitcoin spot ETF?