The U.S. Securities and Exchange Commission (SEC) approved all the Bitcoin Spot ETFs on 10 January 2024. After a long wait and endless debates, the SEC officially approved the first regulated spot, Bitcoin Exchange-traded-funds (ETF), only a few hours after its false announcement, which resulted in the cryptocurrency market displaying massive volatility.
The SEC has approved all eleven (11) spot applications that were filed by ARK 21Shares, Invesco Galaxy, VanEck, WisdomTree, Fidelity, Valkyrie, BlackRock, Grayscale, Bitwise, Hashdex, and Franklin Templeton.
The SEC came to this conclusion after reviewing the documents carefully. The study highlighted the proposals are consistent and follow the rules and regulations of the Exchange Act with the securities exchange.
A document was published on their official site which included a detailed description concerning the approval. However, the document was later removed from the official website, speculating a possible take down.
