From Nasdaq:

The Securities and Exchange Commission has approved the applications for spot Bitcoin exchange-traded funds. The decision is expected to revolutionize the cryptocurrency and traditional finance sectors. The SEC approved applications for Grayscale Bitcoin Trust, Bitwise Bitcoin ETF, Hashdex Bitcoin ETF, iShares Bitcoin Trust, Valkyrie Bitcoin Fund, ARK 21Shares Bitcoin ETF, Invesco Galaxy Bitcoin ETF, VanEck Bitcoin Trust, WisdomTree Bitcoin Fund, Fidelity Wise Origin Bitcoin Fund, and Franklin Bitcoin ETF. The SEC chair Gary Gensler has stated that the decision does not signal the willingness to approve listing standards for crypto asset securities.

Experts believe this decision could merge traditional finance with the cryptocurrency sector by providing a familiar, regulated investment vehicle that increases Bitcoin’s accessibility and legitimacy. A false tweet regarding SEC approval of Spot Bitcoin ETF applications led to a rapid decline in Bitcoin prices. This decision is seen as a significant moment for Bitcoin’s legitimacy, attracting new wave of investors while addressing concerns like AML regulations and investor safety. The approval of spot Bitcoin ETFs is a significant milestone in the integration of cryptocurrencies with traditional financial systems and is expected to bring a new era of growth, innovation, and stability to the broader digital asset ecosystem.



Read more: Wall Street Enters The Crypto Age: SEC Issues Historic Approval Of Spot Bitcoin ETFs (UPDATED)