BTC Price Index and Live Chart – CoinDesk”>(BTC) two days later.

This tweet introduced bitcoin to the world, the then niche internet token that would balloon into an asset worth trillions of dollars at its peak.

The U.S. Securities and Exchange Commission approved the first bitcoin spot ETF on Wednesday, 15 years to the day after Finney tweeted.

BlackRock (BLK), Fidelity and Grayscale, a crypto native fund, have all been approved as providers. Grayscale’s Bitcoin Trust (GBTC) is also now listed as an ETF. These products have fees that range from 0% for the first couple of months (at Bitwise, Invesco and ARK) to up to 1.5% at Grayscale.

Finney died in August 2014. He was the first person, other than Satoshi, Bitcoin’s pseudonymous founder, to run and download Bitcoin software.

He also thought that bitcoin would grow quickly. Finney, in an email to Nakamoto was the first person to place a value on the token. Finney estimated that a fractional amount of global household wealth could spill over into the project. One day, each of the 21,000,000 coins might be valued at $10 million.

Bitcoin was initially intended to be a play against the establishment that operated outside of traditional banking circles. However, since its adoption by Wall Street, it is now positioned for a widespread growth in alternative assets.

Investors and funds will be able to access the tokens without having to take on the risk of setting up a cryptocurrency wallet. The SEC’s approval comes after many years of delays, and even outright rejections, of multiple attempts to launch bitcoin spot ETFs.

Cameron and Tyler Winklevoss are the co-founders behind crypto exchange Gemini. In 2013, they filed their first application to the SEC for a spot Bitcoin ETF, which was rejected. Grayscale has been trying to convert its trust into an ETF ever since 2017.

Bitcoin prices reached as high as $47,500 on Thursday morning before falling after the approvals. They are now moving closer to their lifetime peak of $69,000 in 2021.

Finney’s legacy , which is, will live on forever even though he won’t be around to witness the success of magic internet money.

Parikshit Miishra is the editor.