- The U.S. SEC has approved all spot Bitcoin ETF applications.
- The regulator’s approval comes after a long wait and battle in court.
- Approved funds are expected to debut trading on January 11.
The U.S. Securities and Exchange Commission (SEC) has approved all spot Bitcoin ETF applications, according to an announcement made by the regulator on Wednesday.
The approval follows a long wait and a vicious legal battle between the regulator and Grayscale. In August, a federal court ordered the SEC to review Grayscale’s application, citing “the absence of a coherent explanation” for rejection and an “unlike regulatory treatment.”
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With the past aside, the SEC granted the industry what it has been anticipating since late 2021 when the regulator first approved a Bitcoin futures ETF.
SEC Approves All Bitcoin ETFs at Once
According to a document dated January 10, the securities watchdog has given all issuers the greenlight to launch their spot Bitcoin ETFs, subject to ongoing surveillance and compliance measures for continued investor protection.
Among the spot Bitcoin ETFs approved today include applications from Ark Investments’ 21Shares, BlackRock, Fidelity, VanEck, and others.
The Bitcoin ETFs won’t be open for trade until Thursday 11th, after which analysts predict that the funds will garner massive inflows over the next three months.
Standard Chartered Bank’s recent analysis predicts that “Bitcoin ETFs may see well over $1 billion in inflows over the next three months” and potentially over $100 billion by the end of the year.
Per this projection, between 437,000 and 1.32 million new Bitcoins would be held in U.S. ETF funds by the end of the year. The bank said the inflows would further push Bitcoin’s price to a new high of $100,000 by year-end and $200,000 by the end of 2025.
In the meantime, according to CoinMarketCap data, Bitcoin has gained 167.28% over the last year and is up 6% since the beginning of 2024.
Read how Elon Musk took a jab at the SEC hack:
Musk Takes Jab At SEC Hack; DOGE Crumbles Below Key Support
Stay updated on how Coinbase execs responded to the recent security incident on SEC’s X account:
Coinbase Executives Poke Fun at the SEC’s Security Problem
