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Bitcoin exchange-traded funds (ETFs) have received approval from U.S. regulators, significantly expanding accessibility to the 15-year-old cryptocurrency.&nbsp; 
The Securities and Exchange Commission announced on Wednesday that it has deemed key filings from various markets as effective for listing these innovative products.&nbsp;
The U.S. Securities and Exchange Commission (SEC) has granted approval to 11 applications, including those from prominent entities such as BlackRock, Ark Investments/21Shares, Fidelity, Invesco, and VanEck, among others. The SEC announcement on its website reveals that certain products are slated to commence trading as soon as Thursday.
<h3 id="span-span-data-font-font-size-style-font-size-16px-no-major-movements-have-recognized-after-etf-approval-span-span">No Major Movements Have Recognized After ETF Approval</h3>
The announcement did not lead to significant fluctuations in Bitcoin's price. Following the news, there was a notable uptick in the BTC price, reaching $47,700. However, the impact appeared limited, encountering resistance around $48,000 and the 61.80 FIBO levels. Within a few minutes, the market experienced a dip but quickly stabilized at $46,500.
The news seems to have been factored into the market before the event, with no significant movement observed in BTC. In contrast, Ethereum saw a 10% increase, prompting increased confidence as individuals anticipate the potential <a href="https://www.coingabbar.com/en/crypto-currency-news/etf-approval-decision-is-the-biggest-trend-nowadays" title="applications" class="f-link">approval of an Ethereum ETF</a> who results got delayed till&nbsp;April.
NYSE Arca, Cboe BZX, and Nasdaq submitted their conclusive 19b-4 filings for Spot Bitcoin ETFs&nbsp;at the close of the previous week. These filings align more closely with the amended S-1 submissions from the prospective ETF issuers, which encompass entities such as Galaxy/Invesco, Ark, and Franklin Templeton.
<h4>Implications of Regulatory Approval for Bitcoin</h4>
SEC Approval Marks a Pivotal Regulatory Validation for the Largest Cryptocurrency, Easing Investor Concerns and Providing Added Confidence. This move not only enhances regulatory protections but also opens doors for investments with reputable financial institutions. However, SEC Chair Gensler cautions investors to carefully assess risks before committing their funds to the product.
"While we approved the listing and trading of certain spot bitcoin ETP shares today, we did not approve or endorse bitcoin. Investors should remain cautious about the myriad risks associated with bitcoin and products whose value is tied to crypto," said Gensler.
Historically, retail investors could only access cryptocurrency by purchasing coins directly or dealing with cryptocurrency futures. The introduction of a <a href="https://www.coingabbar.com/en/crypto-currency-news/bitcoin-etf-approval-may-bring-big-changes-in-market" title="BTC" class="f-link">spot bitcoin ETF</a> provides a new avenue for investors, particularly those on a retail scale, to participate in bitcoin without the necessity of managing their investment through a bitcoin wallet. Instead, they can conveniently hold the ETFs within their brokerage accounts.
Also Read: <a href="https://www.coingabbar.com/en/crypto-currency-news/scammers-used-crypto-scams-for-indian-crypto-users" title="Crypto Scams" class="f-link">Highly Educated Indians are More Prone to Crypto Scams</a>

SEC Approves Spot Bitcoin ETFs, Access Given to Top Cryptocurrencies

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