2024

Bitcoin

The <a href="https://ultramining.com/news/en/major-bitcoin-mining-pool-foundry-usa-to-introduce-fee-structure/" rel="noopener noreferrer nofollow">US</a> Securities and Exchange Commission (<a href="https://ultramining.com/news/en/bitcoin-mining-reshaping-landscape-amid-global-interest-surge/" rel="noopener noreferrer nofollow">SEC</a>), on January 10, 2024, made a landmark decision by officially approving the first US regulated Bitcoin (BTC) spot exchange-traded funds (ETFs). This historic approval encompasses 11 Bitcoin ETFs, including those from major players like Grayscale and Bitwise. This move represents a significant milestone in the integration of Bitcoin into mainstream financial markets and is expected to provide a more structured and regulated environment for cryptocurrency investments, according to <a href="https://www.sec.gov/files/rules/sro/nysearca/2024/34-99306.pdf" rel="noopener noreferrer nofollow">SEC</a>.
However, the announcement was preceded by market chaos on January 9, 2024, caused by a false post from the SEC's official Twitter account. The erroneous post led to widespread confusion and volatility in the markets. The SEC quickly rectified the situation, confirming that the post was unauthorized and incorrect.
The journey to this approval has been long-awaited and closely watched by the financial community. Over a dozen asset managers had filed applications to create such funds, reflecting the growing interest and demand for regulated cryptocurrency investment vehicles.&nbsp;
This development is not just a regulatory breakthrough but also a potential catalyst for increased institutional involvement in the cryptocurrency market. It could lead to more stability and growth in the Bitcoin ecosystem, providing a more secure and regulated avenue for investors looking to enter the digital currency space.&nbsp;

SEC Greenlights First US Bitcoin ETFs in 2024

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