SEC Gives Approval to 11 Spot Bitcoin ETFs Applications

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The SEC has given the green light for 11 spot Bitcoin ETFs to be launched on an accelerated basis, according to a document uploaded to the SEC website.

The proposals, by companies such as Bitwise, Grayscale, Hashdex, BlackRock, and more, have been carefully reviewed and found to comply with regulations.

Additionally, the document acknowledges that any fraud or manipulation in the spot Bitcoin market would likely impact Bitcoin futures prices as well.

This comes after a recent court case deemed the SEC’s rejection of Grayscale’s previous bid to pivot to an ETF as “arbitrary and capricious.”

A spokesperson for Grayscale has confirmed that they have received necessary regulatory approvals to list GBTC on the NYSE Arca, and a press release will be shared with more information soon.

Although the document was initially unavailable, it has since been retrieved and confirmed to be accurate by the SEC.