A few minutes ago, the SEC officially announced the approval of the Spot Bitcoin ETF listing. At that moment, BTC surged to $47,972. The initial rise wasn’t as spectacular as expected, and at the time of writing, the price had retraced the spike.
Spot Bitcoin ETF Approved
According to the official announcement from the SEC’s account, the spot Bitcoin ETF has been officially approved. Everyone was certain the approval would come on Wednesday. The much-anticipated approval has finally arrived, but this time we see the BTC price dropping due to speculative selling. The SEC announcement stated:
“Today, the SEC has approved Bitcoin ETFs to be listed on all registered national securities exchanges.
The approved Bitcoin ETFs will be subject to ongoing surveillance and compliance measures to ensure continuous investor protection.”
Although the BTC price approached the day’s low of $45,500, if the first trading volume of ETFs tomorrow is as high as expected, we could see further increases. During this period, altcoins have the potential to continue their negative trend due to the fluctuations in the BTC price.
