Bitcoin ETF approval in the spotlight: SEC decision sparks Crypto market resurgence

As anticipation builds for potential approval of Bitcoin exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC), the cryptocurrency market is experiencing a resurgence. Triggered by BlackRock's spot Bitcoin ETF application and Grayscale's legal victory, the SEC's resistance seems to be waning. With the deadline approaching, investors eagerly await the SEC's decision, which could open the door for broader participation in the crypto industry. The move from futures-backed to spot Bitcoin ETFs signals a pivotal shift, overcoming regulatory concerns about volatility and manipulation.

Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here.

Why Crypto and Wall Street Are Longing for Spot Bitcoin ETFs

By Olga Kharif and Vildana Hajric

Anticipation of a new wave of investors has Bitcoin booming once again, ahead of indications that the US is gearing up to approve exchange-traded funds that invest directly in the cryptocurrency. ETFs, as they're known, have become enormously popular among US investors. For years, the US Securities and Exchange Commission routinely rejected these types of crypto-centric products, citing wariness over volatility and potential manipulation. But the SEC's resistance appears to be weakening, and the market has been closely watching as a Jan. 10 deadline approaches for the regulator to act on at least one application.

___STEADY_PAYWALL___