According to @StockMKTNewz, SPY was the first ETF created in 1993; verified records show SPDR S&P 500 ETF Trust (SPY) was the first U.S.-listed ETF launched in January 1993, while the world’s first ETF, Toronto Index Participation Shares, debuted in 1990 in Canada. Source: @StockMKTNewz; State Street Global Advisors SPDR SPY overview; U.S. SEC filings; TMX Group. For trading, SPY’s exceptional liquidity and deep options market make it a primary real-time proxy for U.S. equity risk that cross-asset desks track alongside crypto. Source: Cboe Global Markets market statistics; State Street Global Advisors SPDR. Empirically, equities and crypto move together more during stress, with Bitcoin’s correlation to the S&P 500 rising materially in recent years and equity shocks spilling over to crypto. Source: IMF Global Financial Stability Report 2022; BIS Bulletin on crypto–equity comovement 2022. Actionable takeaway: monitor SPY direction and VIX spikes around major U.S. macro releases to gauge potential BTC and ETH volatility, as higher equity volatility has been linked to stronger crypto co-movements. Source: Cboe VIX methodology; IMF 2022 analysis on increased crypto–equity comovement.