Bitcoin fans say crypto is the future and one day a decentralised global financial system will dethrone investment titans, central banks and government treasuries. They predict a borderless currency that doesn’t rely on any of the old institutions will be the only way to do business. Instead of being a fork, Wrapped Bitcoin (WBTC) is directly tied to the price of Bitcoin and each WBTC represents one Bitcoin on the Ethereum network. Since blockchains cannot easily communicate with each other, this was bitcoin to usf a solution that was implemented to allow Bitcoin to be used in DeFi activities. How does the market feel about Bitcoin Token today? On Jan. 10, 2024, the Securities and Exchange Commission opened the door for spot Bitcoin ETFs, which track the price of Bitcoin and trade over major exchanges. This was a long-awaited approval from the SEC, and one that is expected to make it even easier for traditional investors to gain access to Bitcoin. The spot Bitcoin ETFs started trading on Jan. 11, 2024.