The U.S. Securities and Exchange Commission (SEC) approved 11 Spot Bitcoin ETFs on Wednesday, following years of rejecting numerous ETF applications from various issuers. The SEC’s action is limited to ETPs that hold a non-exchange-traded commodity, Bitcoin. This should not signal the Commission’s readiness to approve the introduction of standards for cryptocurrency asset titles, according to SEC Chairman Gary Gensler.
Until the new ETFs are available for trading, we can choose another ETF that tracks the price of Bitcoin, namely $BITO, which is available on Freedom24. We hold $BITO and once we see the new ETFs available on Freedom24, we will study them and reposition ourselves.
The SEC is re-examining the listing for 10 spot ETPs bitcoin simultaneously (except for the conversion of the Grayscale Bitcoin Trust into an ETF), which aims to contribute to providing equal competition terms for issuers and promoting fairness and competition, Gensler stated. He added that issuers must provide full, fair, and accurate information about the products.
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| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Gary Gensler |
| Companies | Valkyrie Bitcoin Fund, iShares Bitcoin Trust, Grayscale Bitcoin Trust, Fidelity Wise Origin Bitcoin Trust, VanEck Bitcoin Trust, Ark 21Shares Bitcoin Trust, Bitwise Bitcoin ETF, Hashdex Bitcoin ETF, WisdomTree Bitcoin Trust, Invesco Galaxy Bitcoin ETF, U.S. Securities and Exchange Commission, Franklin Bitcoin ETF |
| Currencies | Bitcoin |
| Securities | None |
