The SEC has approved Bitcoin Spot ETFs for trading in the US

After years of rejection, the US Securities and Exchange Commission (SEC) has accelerated the first wave of approvals for trading in the United States.

In a filing to the SEC website on Wednesday, all 11 Bitcoin ETF applicants have been approved for trading on national securities exchanges such as the NYSE, Nasdaq and CBOE. That includes funds offered by Greyscale, Bitwise, Hashdex, BlackRock, Valkyrie, Ark Invest/21Shares, Invesco/Galaxy, VanEck, WisdomTree, Fidelity and Franklin Templeton.

“Each proposal seeks to list and trade shares of a trust that holds, in whole or in part, bitcoin,” the SEC wrote. “This order approves the proposal on an expedited basis.”

The announcement confirmed notices from the CBOE indicating that several bitcoin ETFs would begin trading at 9:30 a.m. ET on Thursday, including funds from Arch, Fidelity and Invesco. The SEC has rejected spot ETFs for years over concerns that the original Bitcoin spot market was insufficiently regulated and unsuitable for public markets. However, a court bankruptcy against Grayscale in August forced the agency to conduct a “fresh review” of ETF applications.

“The Commission finds that the proposals are consistent with the Exchange Act and the rules and regulations,” the agency wrote in the approval order, whose rules are sufficient to prevent fraudulent and fraudulent actions and practices. “

“Expedited Approval” is over. thank god. pic.twitter.com/qCozlxzSBX

— Eric Balchunas (@EricBalchunas) January 10, 2024