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The SEC officially gave the green light for America’s first regulated spot Bitcoin ETFs. 9 th January marks a false start in this landmark decision as it preceded by misleading tweet from the account of SEC causes market turmoil.

The Road to Approval

19b-4 applications from firms including ARK 21Shares, Invesco Galaxy and others were approved by the SEC on January On this date allowing these companies to list their spot Bitcoin ETFs for trading. However, an ‘Error 404’ message appeared for a brief moment in place of the approval document on SEC’s website. Using ETFs, investors will be able to establish an indirect stake in Bitcoin’s price without having to acquire BTC directly or self-storing cryptocurrency.

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Author: Crypto Daily

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