The U.S. Securities and Exchange Commission (SEC) has approved Bitcoin ETFs, significantly expanding access to the 15-year-old cryptocurrency. The SEC declared effective the 19b-4 filings submitted by the New York Stock Exchange, Nasdaq, and Cboe Global Markets, allowing these markets to list and offer trading in the securities.

This approval comes after many years of delays and rejections of numerous attempts to launch spot Bitcoin ETFs. These are spot ETFs, meaning they hold Bitcoin itself, as opposed to the already-approved Bitcoin futures ETFs, which hold derivatives contracts tied to BTC.

About a dozen companies, including BlackRock, Fidelity, and Grayscale, sought to create Bitcoin ETFs. In recent days, they’ve announced – and, in some cases, reduced – the fees they plan to charge investors, suggesting a fierce battle to collect investors’ money is ahead.

This move by the SEC is seen as a significant step towards institutional and retail clients gaining exposure to Bitcoin’s price movements without requiring them to set up wallets or otherwise directly invest in the digital asset.

To the Moon.

Image: Copyright: grejak

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