SEC Approves 11 Spot Bitcoin ETFs, Will Begin Trading Tomorrow
The U.S. Securities and Exchange Commission (SEC) has finally approved 11 spot bitcoin exchange-traded funds (ETFs), including those from Grayscale, Bitwise, and Hashdex, Reuters reported, citing a statement from the agency
The approval marks a significant development for Bitcoin, providing both institutional and retail investors with a means to gain exposure to the largest cryptocurrency globally without the need to hold it directly. It’s seen as a substantial boost for the crypto industry, which has faced challenges due to a series of scandals.
The approval comes less than 24 hours after the SEC reported late Tuesday that its social media account on X (formerly known as Twitter) was compromised by an unauthorized party. The agency said the perpetrator posted a fake message claiming approval of exchange-traded funds for Bitcoin.
Below is a copy of the approval letter from the SEC website.
To Whom It May Concern:
Please be advised that Cboe BZX Exchange, Inc. has received an application dated December 20, 2023, from the above-referenced issuer and has approved the following securities for listing on Cboe BZX Exchange, Inc. (“Exchange”):
• ARK 21Shares Bitcoin ETF (ARKB)
In order to facilitate timely listing, the Exchange requests acceleration of registration of these securities under Rule 12d1-2 of the Securities Exchange Act of 1934, as amended. If there are any questions, please call me at (646) 856-8722. Your assistance is greatly appreciated.
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