On 10 Jan 2024, the SEC finally approved spot Bitcoin ETFs. Chairman Gary Gensler said that the commission found it best to approve the ETFs after the Grayscale court decision.
After SEC Delayed spot Bitcoin ETF applications of BlackRock, Invesco, WisdomTree and all other applicants, there was selling pressure witnessed in the market.
The Grayscale has won a case against SEC where it alleged wrongful rejection of its spot Bitcoin ETF.
On the first day of Jacobi Bitcoin ETF debut, just 113 trading volume was recorded. US SEC has also delayed Bitcoin ETF by ArkInvest.
On August 11, 2023, the SEC issued a response to ArkInvest's filing which said that decision on ArkInvest Bitcoin ETF was delayed to 2024.
Jacobi Asset Management had got approval for its spot Bitcoin ETF in October 2021 from Guernsey Financial Securities Commission.
Global X has become the 9th spot Bitcoin ETF applicant in the USA. It refiled the application on Fri, Aug 04, 2023.
WisdomTree has filed with the US SEC to seek approval for its Bitcoin ETF on June 20, 2023.
Details about Purpose Investment's Spot Bitcoin ETF which got approved in February 2021 in Canada.
On June 13, 2022, BlackRock, the largest asset manager in the world filed an application to operate a spot Bitcoin ETF with the US SEC.