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SEC approves spot Bitcoin ETFs after much hype

Posted on AllSides January 10th, 2024
From The Left
Illustration: Shoshana Gordon/Axios

The Securities and Exchange Commission on Wednesday approved spot Bitcoin exchange-traded funds.

Why it matters: After a decade of hype, Bitcoin will soon effectively be listed on exchanges, giving it a pathway to investment portfolios alongside stocks and bonds.

Axios previously reported Bitcoin ETFs could start trading as soon as Thursday.

The breakthrough comes after a false start Tuesday, when Bitcoin price briefly spiked to $47,680 on a since-deleted SEC tweet that claimed the funds were approved to list on national exchanges. The SEC soon after said its social media...

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