In a landmark decision, the U.S. Securities and Exchange Commission (SEC) has given the green light to the first batch of Bitcoin spot ETFs for trading in the United States. This approval has been expedited, marking a significant shift in the SEC’s stance.
According to a filing on the SEC’s website, all 11 Bitcoin ETF applicants have received approval for trading on national securities exchanges such as the NYSE, Nasdaq, and CBOE. The approved funds are provided by a range of companies including Grayscale, Bitwise, Hashdex, BlackRock, Valkyrie, Ark Invest/21Shares, Invesco/Galaxy, VanEck, WisdomTree, Fidelity, and Franklin Templeton.
The SEC stated, “Each proposal seeks to list and trade shares of a Trust that would hold spot bitcoin,16 in whole or in part. This order approves the Proposals on an accelerated basis.”
This announcement aligns with previous notices from the CBOE, which indicated that multiple spot Bitcoin ETFs would commence trading at 9:30 am ET on Thursday. This includes funds from Ark, Fidelity, and Invesco.
For years, the SEC has been rejecting spot ETFs due to concerns that the underlying Bitcoin spot market was not adequately regulated, making it unsuitable for public markets. However, a court defeat to Grayscale in August led the agency to reevaluate ETF applications.
In its approval order, the SEC stated, “The Commission finds that the Proposals are consistent with the Exchange Act and rules and regulations thereunder applicable to a national securities exchange.” The agency added that their rules are sufficient to “prevent fraudulent and manipulative acts and practices.”
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | positive |
| Relevance Score | 1 |
| People | None |
| Companies | Franklin Templeton, Invesco/Galaxy, CBOE, Binance, BlackRock, U.S. Securities and Exchange Commission, Hashdex, VanEck, Bitwise, Fidelity, Nasdaq, Valkyrie, Ark Invest/21Shares, NYSE, Grayscale, WisdomTree |
| Currencies | Bitcoin |
| Securities | Franklin Templeton, Invesco/Galaxy, BlackRock, Hashdex, VanEck, Bitwise, Fidelity, Valkyrie, Ark Invest/21Shares, Grayscale, WisdomTree |
