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US Securities and Exchange Commission Accepts Applications for Bitcoin Spot ETFs from BlackRock, VanEck, WisdomTree, and Galaxy Digital
The US Securities and Exchange Commission (SEC) accepted Bitcoin spot ETF applications from BlackRock, VanEck, WisdomTree and Galaxy Digital on July 14, 2023. A day earlier, applications from ARK Investment, BitWise and Invesco were also accepted. Although the wealth giants' applications have not yet been approved, the SEC's acceptance represents an important step toward approval. The agency will now begin the review process for the applications. How the SEC will evaluate the applications remains to be seen. However, an approval of the ETFs could have a strong impact on the Bitcoin price as it allows institutional investors to enter the BTC market...
US Securities and Exchange Commission Accepts Applications for Bitcoin Spot ETFs from BlackRock, VanEck, WisdomTree, and Galaxy Digital
The US Securities and Exchange Commission (SEC) accepted Bitcoin spot ETF applications from BlackRock, VanEck, WisdomTree and Galaxy Digital on July 14, 2023. A day earlier, applications from ARK Investment, BitWise and Invesco were also accepted.
Although the wealth giants' applications have not yet been approved, the SEC's acceptance represents an important step toward approval. The agency will now begin the review process for the applications.
How the SEC will evaluate the applications remains to be seen. However, approval of the ETFs could have a strong impact on Bitcoin price as it would allow institutional investors to enter the BTC market.
Surprisingly, however, the Bitcoin price did not react positively to this news. Just hours after the SEC announcement, the price fell below $30,000 again.
It remains to be seen how the BTC price will develop in the future. If you are interested, you can read our latest Bitcoin analysis to learn more about possible price developments.
Please note that this article has been written to the best of our knowledge and belief, but no guarantee can be given as to the accuracy of the information. Readers are therefore encouraged to independently verify the facts and, if necessary, consult a professional before making any decisions based on this content.