After the chaotic events of last night, when a false message was spread through the hacked 𝕏 account of the Securities and Exchange Commission (SEC), claiming that all Bitcoin ETFs had been approved, the approvals are now officially confirmed.
After a long wait, lots of back and forth in the past few days, and yesterday’s debacle, the market finally has a reason to celebrate: The regulatory authority has approved Spot Bitcoin ETFs. In fact, as many had suspected, all 11 pending applications were approved simultaneously. This opens the door to a new era of Bitcoin investment and could have significant implications on the future price of Bitcoin.
Abrupt Announcement
By the way, the news wasn’t publicly announced through a direct statement from the SEC, but rather through the publication of a document on the agency’s official website. In it, it states:
Actually, the document probably wasn’t supposed to be released to the public so early. The powerful stock market watchdog has once again made a mistake. Temporarily, the document was offline again. However, it is legitimate and the confirmations are therefore also valid.
Shortly afterwards, a statement from SEC Chairman Gary Gensler confirmed the approval. He also made it clear that approving the Bitcoin ETFs does not change the agency’s view on other cryptocurrencies.
More than a decade after the first attempt by the Winklevoss twins to launch a Spot Bitcoin ETF, the dream of some Bitcoiners is finally coming true, and the asset, just 15 years old, is entering the mainstream financial world.
Outlook
With the approval of Spot Bitcoin ETFs by the SEC, a new chapter begins for the largest and most important electronic currency. As the market adjusts to this new era, MyEliteTrading.com will continue to report on all new developments. Now, it’s time to see how much capital will actually flow into the investment products.
