The US Securities and Exchange Commission (SEC) has announced its approval for the listing and trading of several Bitcoin exchange-traded products (ETPs). This historic moment opens new horizons for Bitcoin and the cryptocurrency sector as a whole, according to an official statement from Chairman Gary Gensler released on 10 January 2024.
Gensler clarified that this approval only applies to ETPs holding Bitcoin that are not linked to securities and should not be seen as the SEC's position on other crypto assets. The SEC's decision comes after an appellate court ruling that pointed out the inadequacy of the commission's reasoning in rejecting Grayscale's proposal to convert their Bitcoin Trust into an ETP. This opened the door for new ETPs, including Grayscale.
Today's approval provides investors with new prospects to participate in the Bitcoin market in safer ways. However, as with any investment, careful due diligence is required and investors should be aware of both potential benefits and risks. Binance will continue to provide up-to-date news to help investors make informed decisions in the cryptocurrency market.
