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NEW YORK – The U.S. Securities and Exchange Commission (SEC) is expected to issue its decision on the potential launch of the first U.S.-based Bitcoin spot Exchange-Traded Fund (ETF) by January 10. This decision could have significant consequences for the cryptocurrency market and its regulatory landscape.
The SEC is currently reviewing more than twelve applications from various financial institutions seeking to introduce a bitcoin spot ETF. Candidates include major industry players such as ARK Invest, led by famed investor Cathie Wood, and Grayscale, a subsidiary of Digital Currency Group (DCG). Since 2013, Grayscale has allowed institutional investors to access bitcoin through over-the-counter shares.
Approval of a bitcoin spot ETF in the United States would represent a significant milestone for the cryptocurrency industry, providing greater regulatory clarity. It could also strengthen the competitive position of the United States in the area of cryptocurrency regulation. The market is closely watching the candidates, which also include heavyweights such as BlackRock, WisdomTree and VanEck.
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