SEC Approves All Outstanding Applications for Bitcoin ETFs from BlackRock, Grayscale, and Fidelity

The SEC has given the green light to all 11 outstanding applications for spot bitcoin ETFs, including those from BlackRock, Grayscale, and Fidelity. This move is a significant step towards the institutionalization of cryptocurrency and makes bitcoin more accessible to a wider audience in a regulated and simplified manner. While the approval was expected, SEC Chairman Gary Gensler cautioned investors about the numerous risks associated with bitcoin and crypto products. Despite this, the total market capitalization of bitcoin remains high at almost $900 billion, surpassing the valuation of Berkshire Hathaway. Fund managers have revealed fees ahead of possible approval for those seeking more information on bitcoin ETFs.