[NEWS] SEC approves first Bitcoin spot ETF; 11 companies, including BlackRock, to list

The US Securities and Exchange Commission (SEC) announced on the 11th (Japan time) that it has approved several Bitcoin spot ETFs. This will mark the first Bitcoin spot ETF to be listed in the US.

Since the cryptocurrency exchange Gemini made the first application in 2013, many companies have been working to realize a Bitcoin spot ETF, but the SEC has refrained from approving them due to issues such as price manipulation risks and investor protection.

The number of Bitcoin spot ETFs approved by the SEC this time is 11. The approved Bitcoin spot ETFs are as follows:

• Grayscale: Grayscale Bitcoin Trust (GBTC)
• Bitwise: Bitwise Bitcoin ETP Trust (BITB)
• HashdeX: HashdeX Bitcoin ETF (DEFI)
• BlackRock: iShares Bitcoin Trust (IBIT)
• Valkyrie: Valkyrie Bitcoin Fund (BRRR)
• Ark&21Shares: ARK 21Shares Bitcoin ETF (ARKB)
• Invesco: Invesco Galaxy Bitcoin ETF (BTCO)
• VanEck: VanEck Bitcoin Trust (HOLD)
• WisdomTree: Wisdom Tree Bitcoin Trust (BTCW)
• Fidelity: Fidelity Wise Origin Bitcoin Fund (FBTC)
• Franklin: Franklin Bitcoin ETF (EZBC)

Following the approval of the Bitcoin spot ETF, the price of Bitcoin (BTC) is hovering around $45,500 (approximately JPY 6.65 million) at the time of writing. The price fluctuation is thought to have been minimal due to the influence of the false report posted by the SEC the previous day.

On the other hand, there has been a significant inflow of funds into Ethereum (ETH), which has currently risen to around $250 (approximately JPY 370,000). In addition to the flow of some funds due to the approval of the Bitcoin spot ETF, expectations are building for the realization of the currently applied for Ethereum spot ETF.

The approved Bitcoin spot ETF is expected to start trading as early as the evening of the 11th Japan time.

SEC Chairman Gary Gensler commented, "Today, we approved the Bitcoin spot ETF." He added, "We do not endorse or recommend Bitcoin itself. Investors should remain cautious about the myriad risks associated with Bitcoin and products whose value is tied to crypto assets."

Reference:Announcement,approval documents
Image: Shutterstock

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