SEC Approves Spot Bitcoin ETFs
The asset management industry has been trying to launch a spot Bitcoin ETF for over a decade. The spot Bitcoin ETF was approved today with the SEC's official announcement, investors hope that more people will show interest in cryptocurrencies.
The launch of the first US spot bitcoin ETFs (exchange-traded funds) has been authorized.
The Securities and Exchange Commission on Wednesday announced valid 19b-4 filings by the New York Stock Exchange, Nasdaq and Cboe Global Markets, allowing those markets to list and offer to buy and sell securities starting Thursday.
World's Largest Asset Managers Apply for Spot Bitcoin ETF
US investment firms including BlackRock, Fidelity and Grayscale applied for a Spot Bitcoin ETF months ago. The cryptocurrency market has priced in the anticipation of approval from the SEC with its months-long rally. The willingness of companies like BlackRock, which manages trillions of dollars in assets, to list cryptocurrencies has been received very positively among crypto investors.
