Boon in Crypto Industry After SEC Approves Spot Bitcoin ETFs

The Securities and Exchange Commission authorized financial firms to offer a Bitcoin investment product that some hope will accelerate adoption of the technology.

The ARK 21Shares Bitcoin ETF (ARKB) and other spot Bitcoin ETFs were tickered on Fidelity’s retail trading platform lately, ahead of the anticipated SEC (Securities and Exchange Commission) approval. Nevertheless, these ETFs are not yet available for trading.

Eleven ETFs for Bitcoin (BTC) are available on Bloomberg’s platform. They are presently listed as pending, indicating that their market debut is anticipated. In this regard, the Chicago Board Options Exchange has likewise taken the initiative.

They submitted a request on behalf of Invesco Galaxy to the SEC. The purpose of this request is to make it easier to apply for approval to list and trade concurrently with other issuers, such as BlackRock and ARK 21Shares.

The financial sector anticipates several spot Bitcoin ETF approval from the SEC soon. With the SEC’s approval, companies might begin trading as early as January 11. James Seyffart, an expert in ETFs, has noted that the authorized 19b-4 applications will serve as the primary markers of this evolution.

The acceptance of these applications, which are requests for rule modifications, would solidify the standing of Bitcoin ETFs in the marketplace.

This developing situation highlights how cryptocurrencies are becoming more and more integrated into established financial systems. The possible acceptance and ensuing trading of Bitcoin ETFs signal a dramatic change in the way that digital currencies are seen and treated in the financial industry.

The market’s expectation of the SEC’s judgment underscores how investing alternatives are changing and how cryptocurrencies are becoming a more appealing asset class.

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