Democrats Dissent On SEC Spot Bitcoin Approval, Gensler Distances Himself From ‘Terrorist-Financing’ Crypto

By Tyler Durden

 

Following yesterday’s false start, it appears the SEC has now officially approved a spot Bitcoin ETF… and screwed-up the release AGAIN!

The SEC dropped the following at this link… “Order Granting Accelerated Approval”

Then pulled the link.

So another false start, but…

As Bloomberg’s James Seyffart noted:

“It certainly looks like the #Bitcoin ETF Approval order had hit the SEC website.”

And Bloomberg’s Eric Balchunas summed it up perfectly:

“It’s over, thank god!”

ETF Store’s Nate Geraci seemed confident:

By far, my favorite part of the approval order…

"The Commission is able to conclude that fraud or manipulation that impacts prices in spot bitcoin markets would likely similarly impact CME bitcoin futures prices."

Thank you. pic.twitter.com/Vdq7RSx07J

— Nate Geraci (@NateGeraci) January 10, 2024

Grayscale confirmed:

“I am happy to confirm that the Grayscale team has received necessary regulatory approvals to uplist GBTC to NYSE Arca, and we will share a press release with additional information shortly.”

Coinbase is pleased:

“The SEC’s approval of 11 spot bitcoin ETFs, eight of which are partnered with Coinbase, is a watershed moment for the expansion of the cryptoeconomy,” the company said in a blog post.

“Spot bitcoin ETFs introduced by the world’s largest asset managers will unlock diversified pools of new investors to spur long-term growth and product innovation.”

There are more than a dozen applications pending with the SEC:

iShares Bitcoin Trust (BlackRock)

Jane Street Capital, JP Morgan Securities, Macquarie Capital, and Virtu Americas have all been named as authorized participants for BlackRock’s Bitcoin ETF…

READ FULL ARTICLE HERE... (zerohedge.com)

 

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