9 months ago
The U.S. Securities and Exchange Commission (SEC) has approved 11 spot bitcoin exchange-traded funds (ETFs) for listing and trading connected U.S. banal exchanges. In a historical determination aft years of anticipation and regulatory hurdles, the approved spot bitcoin ETFs are expected to commencement trading Thursday connected NYSE Arca, Nasdaq, oregon Cboe BZX Exchange.
Spot Bitcoin ETFs Approved to Launch
The U.S. Securities and Exchange Commission (SEC) announced Wednesday that it has approved 11 spot bitcoin exchange-traded money (ETF) applications to beryllium listed and traded connected NYSE Arca, the Nasdaq Stock Market, and Cboe BZX Exchange.
The approved spot bitcoin ETFs are ARK 21shares Bitcoin ETF (ARKB), Fidelity Wise Origin Bitcoin Fund (FBTC), Franklin Bitcoin ETF (EZBC), Invesco Galaxy Bitcoin ETF (BTCO), Vaneck Bitcoin Trust (HODL), Wisdomtree Bitcoin Fund (BTCW), Bitwise Bitcoin Trust (BITB), Ishares Bitcoin Trust (IBIT), Valkyrie Bitcoin Fund (BRRR), Hashdex Bitcoin ETF (DEFI), and Grayscale Bitcoin Trust (GBTC).
The 11 spot bitcoin ETF applicants filed their last registration statements (S-1) with the SEC this week. The filings revealed a fierce interest warfare among issuers. In its latest filing, which was posted connected the SEC’s website connected Wednesday morning, Blackrock, the world’s largest plus manager, slashed its interest to 0.25% (0.12% for the archetypal $5 billion), joining Ark Invest and 21shares successful a fee-cutting frenzy. Their ETF interest sits astatine 0.21% with a 0% waiver for the archetypal six months oregon $1 billion. Bitwise takes the crown with a 0.20% interest and identical waiver, portion Grayscale remains the priciest enactment astatine 1.5%.
Approved spot bitcoin ETFs universally adhere to the currency instauration model, arsenic it aligns with the SEC’s preference. Ark Invest CEO Cathie Wood believes spot bitcoin ETFs volition boost the terms of bitcoin “significantly.” Vaneck’s integer assets director stated that radical thin to underestimate the semipermanent interaction of spot bitcoin ETFs. Crypto speech Coinbase, which volition service arsenic the custodian for astir U.S. spot bitcoin ETFs, precocious said it has been extensively prepared for spot bitcoin ETF approvals.
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