SEC Approves The First Spot-Bitcoin ETFs
Chair Gery Gensler :
“Today, the Commission approved the listing and trading of a number of spot bitcoin exchange-traded product (ETP) shares.I have often said that the Commission acts within the law and how the courts interpret the law. Beginning under Chair Jay Clayton in 2018 and through March 2023, the Commission disapproved more than 20 exchange rule filings for spot bitcoin ETPs. One of those filings, made by Grayscale, contemplated the conversion of the Grayscale Bitcoin Trust into an ETP.“
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