SEC Approves Bitcoin ETFs
The first regulated spot Bitcoin exchange-traded funds (ETFs) in the United States have been officially approved by the US Securities and Exchange Commission.
This decision comes after the markets were thrown into chaos by a false announcement on the SEC’s official Twitter account the day prior.
On January 10, the SEC approved the 19b-4 applications from various companies such as ARK 21Shares, Invesco Galaxy, and VanEck, allowing for spot Bitcoin ETFs to be listed and traded on their respective exchanges.
Although the filing was initially unavailable, it was later made live through a different link.
This historic approval marks the first time a regulated exchange-traded product in the US will offer investors direct exposure to the price of Bitcoin without actually purchasing it or worrying about self-custody.
Investors will be able to buy shares in ETFs that hold Bitcoin as one of its underlying assets. According to ETF analyst James Seyffart, the commission may not have intended to release the approval document when it did, but it is likely that they will repost it regardless.
