TL;DR
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The US SEC has approved all 11 spot Bitcoin ETF applications.
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This comes following months of amendment of the various applications by BlackRock and other applicants.
SEC Finally Approves Spot Bitcoin ETFs
The United States Securities and Exchange Commission (SEC) has finally approved spot Bitcoin exchange-traded funds in the United States. This latest development comes following years of rejecting multiple ETF applications by numerous firms.
According to the SEC, the ETF applications filed by BlackRock, VanEck, Bitwise, Fidelity, Franklin, Valkyrie, HashDex, Ark Invest, Grayscale, WisdomTree and Invesco Galaxy, have all been approved.
While the approval came a few minutes ago, Bitcoin’s price is yet to substantially soar higher. At press time, Bitcoin continues to trade around the $46k level, down by less than 2% in the last 24 hours.
According to the document on the SEC website, which now shows a 404 error, the SEC said,
"After careful review, the Commission finds that the Proposals are consistent with the Exchange Act and rules and regulations thereunder applicable to a national securities exchange."
Bloomberg ETF analyst James Seyffart also confirmed this latest development on X. The approval came a few hours after the Cboe BZX exchange sent letters to the SEC, requesting “acceleration of registration” for proposed spot bitcoin ETFs.
🚨BREAKING🚨
— James Seyffart (@JSeyff) January 10, 2024
Bitcoin ETFs Likely Approved by the SEC
It certainly looks like the #Bitcoin ETF Approval order had hit the SEC website but the link is no longer working. That said, this document looks accurate to me.https://t.co/NhJueWNPJ0 pic.twitter.com/W0ipnlg3j1
Cboe BZX exchange also issued listing notifications for six prospective ETFs earlier today, saying that trading would begin on Thursday.