Did the SEC approve bitcoin ETFs?

An ETF of Bitcoin futures already exists, after all. Yesterday, a hack of the SEC’s Twitter / X account briefly and falsely claimed the SEC had approved Bitcoin ETFs, leading to some confusion. 11 spot Bitcoin ETFs have been approved by the SEC, setting the stage for institutional investors to take the plunge into cryptocurrency.

Could a spot bitcoin ETF Open the door to new investors?

A spot bitcoin ETF could open the door to many new investors who don’t want to take such extra steps. The price of bitcoin has already soared in anticipation of the SEC’s approval, with bitcoin trading at $47,500 Thursday, up from around $27,000 in mid-October.

What is a bitcoin ETF?

Bitcoin is a relative newcomer to the world of exchange-traded funds. Bitcoin ETFs tied to futures on the cryptocurrency launched in 2021, but it wasn’t until January 2024 that U.S. regulators allowed exchange-traded products tied directly to the day-to-day movement of bitcoin prices—known as the asset’s spot prices.