In a groundbreaking decision, the US Securities and Exchange Commission (SEC) has approved all Bitcoin spot ETFs in a singular and unprecedented move on January 10. This surprising endorsement of the long-anticipated financial instruments, officially confirmed, has immediately generated enthusiasm across the cryptocurrency industry. The SEC surprisingly gave the green light to 11 spot ETF applications submitted by major players such as Grayscale, Bitwise, Hashdex, Valkyrie, Ark 21Shares, Invesco, Fidelity, and others.
This decision follows months of intense industry lobbying and a recent flurry of amended 19b-4 filings, signaling growing pressure on the SEC to take action.
The approval signifies a significant shift, providing direct access to Bitcoin through ETFs for millions of institutional and retail investors who previously had limited options. In the immediate aftermath, the price of Bitcoin dipped by almost 1%, currently trading at $46,049.70.
Altcoins are also experiencing a notable downturn, with most prices in the red, except for Ethereum (ETH), which is up nearly 10%. Additionally, many Layer 2 (L2) tokens are posting double-digit gains. The price of Binance Coin (BNB) is down by 0.4%.
