After years of anticipation and numerous rejections, the U.S. Securities and Exchange Commission (SEC) has finally approved the launch of Bitcoin spot Exchange-Traded Funds (ETFs) in the United States. This landmark decision marks a significant shift in the regulatory landscape for cryptocurrency investments in the country.

The approval, detailed in a filing on the SEC’s website, grants permission for 11 Bitcoin ETF applicants to begin trading across major national securities exchanges like the NYSE, Nasdaq, and CBOE. The list of approved funds includes those provided by prominent firms such as Grayscale, Bitwise, Hashdex, BlackRock, Valkyrie, Ark Invest/21Shares, Invesco/Galaxy, VanEck, WisdomTree, Fidelity, and Franklin Templeton.

The SEC’s order, issued on Wednesday, states, “Each proposal seeks to list and trade shares of a Trust that would hold spot bitcoin, in whole or in part,” and approves these proposals on an accelerated basis. This confirmation follows earlier indications from the CBOE that multiple spot Bitcoin ETFs, including those from Ark, Fidelity, and Invesco, would commence trading at 9:30 am ET on Thursday.

Previously, the SEC had consistently rejected spot Bitcoin ETFs, citing concerns over the lack of regulation in the underlying Bitcoin spot market and its suitability for public markets. However, a significant court loss to Grayscale in August compelled the agency to re-evaluate ETF applications afresh.

In its approval order, the SEC acknowledged that the proposals align with the Exchange Act and the rules and regulations applicable to a national securities exchange. The agency also noted that the rules in place are adequate to “prevent fraudulent and manipulative acts and practices.”

This breakthrough decision by the SEC is poised to open the floodgates for a new era of Bitcoin investment opportunities in the U.S., providing a regulated and more accessible avenue for investors to engage with the cryptocurrency market.

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