From Nasdaq:

1. The U.S. Securities and Exchange Commission (SEC) has approved the creation of bitcoin exchange-traded funds (ETFs), with as many as 11 bitcoin ETFs expected to be launched this year.

2. Following the news, the price of bitcoin (BTC) jumped to 47,893.70, settling at 46,599.84 to close the day, compelling the SEC to allow exposure to the world’s largest cryptocurrency.

3. The SEC’s landmark decision aims to position the entire crypto space as an integral component of mainstream finance.

4. BlackRock Inc. (BLK) and NVIDIA Corp. (NVDA) are players to watch in the stock market as they enter the Bitcoin ETF race.

5. Coinbase Global Inc., Visa Inc., and PayPal Holdings Inc. are also expected to impact the market as prominent figures in the cryptocurrency and payment ecosystems. Coinbase Global offers financial infrastructure and technology for the shifting financial landscape.

6. The news also comes with a Zacks recommendation for a “sleeper” stock tied to the impressive AI sector, projected to have a significant economic impact by 2030. Download Free ChatGPT Stock Report Right Now >>



Read more: SEC Changes Rule to Approve Bitcoin ETFs: 5 Stocks to Watch