Crypto milestone: SEC approves spot Bitcoin ETFs


The U.S. Securities and Exchange Commission (SEC) has given the green light to 11 spot Bitcoin exchange-traded funds (ETFs).

Today’s landmark approval includes ETFs from major asset management firms such as BlackRock, Grayscale, and Valkyrie, and is expected to pave the way for substantial investment inflows into the digital asset space.

The SEC’s decision comes after a period of anticipation and speculation within the industry, with more than a dozen firms having filed applications to issue these investment products. This move is seen as a turning point that could lead to wider acceptance and integration of Bitcoin into traditional financial markets.

The approved ETFs, which allow for direct investment in Bitcoin rather than derivatives, are anticipated to attract billions of dollars in the initial weeks of trading.

The SEC’s approval of spot Bitcoin ETFs is expected to provide investors with a more regulated and accessible means of gaining exposure to Bitcoin, potentially leading to increased adoption and stability for the cryptocurrency market.

The SEC’s document, which briefly appeared on their website before leading to a 404 error, stated that the proposals are in line with the Exchange Act and applicable regulations. This comes after a previous ruling that was criticized for being arbitrary in rejecting Grayscale’s bid to convert its Bitcoin trust into an ETF. Grayscale has since confirmed to The Block that it has received the necessary regulatory approvals to uplist its Bitcoin trust to an ETF on the NYSE Arca.

Prior to the SEC’s approval, the ETF applicants were engaged in a competitive race to offer the lowest fees to attract investors. Bitwise, for instance, set its fee at zero for the first six months or until it reaches US$1 billion in assets, and then 0.2% thereafter. BlackRock has offered a discounted fee of 0.2% for the first 12 months or until the fund hits US$5 billion in assets, with a subsequent increase to 0.3%.

The SEC’s approval of spot Bitcoin ETFs is a watershed moment for the cryptocurrency industry, as it opens the door for mainstream investors to participate in the digital asset market through a regulated framework.

Source : Yahoo Finance / Jan 11, 2024 logo


240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma


The purchase of digital assets is subject to a high market risk and price volatility. Changes in value can be significant and occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and returns can fluctuate both up and down, and you may not recover the amount you invested. RISK WARNING

Automata ICO Limited has a branch in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.

Automata Pay Europe Limited is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act.