SEC finally approves Bitcoin ETFs! What's next?

After months of anticipation, the SEC finally approved Bitcoin ETFs. Unlike the fake tweet that came out 24 hours ago, this time it was real.

The market had pegged the probability of approval to be over 90% likely to happen this week. Now that the ETFs have been approved, it’s likely they will start trading tomorrow.

So far the reaction has been muted. BTC rallied about 1000 points on the announcement, and is now coming off the highs. The muted reaction is not surprising given how highly anticipated this event was.

BTC 30 min chart

Now that the ETF has been approved, what is the next trade? Does one hold or exit BTC longs? Will there be a rotation into ETH and alts? Read on to find out.