In a groundbreaking development for the cryptocurrency and Bitcoin market, the United States Securities and Exchange Commission (SEC) has approved all 11 spot Bitcoin ETFs submitted by the world’s largest asset managers. Bitcoin ETFs Align With Exchange Act Standards In its official filing, the SEC stated that each proposal sought to list and trade shares of a trust that would hold spot Bitcoin, either wholly or partially. Related Reading: Crypto Payments Soared To Unprecedented Levels In 2023, CoinGate Report Reveals Importantly, the commission found that the proposals were consistent with the provisions of the Exchange Act and the applicable rules and regulations governing national securities exchanges. Specifically, the SEC determined that the proposals adhere to the requirements outlined in Section 6(b)(5) of the Exchange Act, which includes preventing fraudulent and manipulative acts and practices to protect investors and the public interest. The approval of these Bitcoin ETFs marks an important milestone in the maturation of the cryptocurrency market. However, despite the significant news, the Bitcoin price has remained stable at the $46,200 level, defying some expectations of immedi ..
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