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What is a bitcoin ETF?

Bitcoin is a relative newcomer to the world of exchange-traded funds. Bitcoin ETFs tied to futures on the cryptocurrency launched in 2021, but it wasn’t until January 2024 that U.S. regulators allowed exchange-traded products tied directly to the day-to-day movement of bitcoin prices—known as the asset’s spot prices.

When did bitcoin ETFs get approved by the SEC?

The journey began in 2013 when an entity affiliated with the Winklevoss twins sent the first application for such a financial product to the SEC. While that application was eventually rejected, bitcoin ETFs based on futures products were eventually approved by the SEC starting in 2021.

Will a spot bitcoin ETF be approved by the SEC?

In a bid to appeal to investors, many issuers slashed and offered waivers to their spot bitcoin ETF fees ahead of the SEC nod. It has been a long road for the approval of a spot bitcoin ETF in the United States.

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