SEC Approves All Bitcoin Spot ETFs!

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The SEC has given the green light to all Bitcoin spot exchange-traded funds (ETFs), including those proposed by Grayscale, Bitwise, and Hashdex.  Commissioner Hester Peirce, a long-time advocate for cryptocurrency, also backed the decision. However, Commissioner Elad Roisman’s colleague, Commissioner Caroline Crenshaw, opposed the move, warning that retirement accounts could suffer as a result. In its statement, the SEC emphasized that it had previously denied more than 20 applications but that the recent court ruling on Grayscale had changed the situation. The SEC also clarified that its approval was limited to Bitcoin, which is classified as a non-securities commodity, and that the vast majority of crypto assets are considered investment contracts.