US Spot Bitcoin ETF SEC Approval event
Overview
On 10 January 2024, the US Securities and Exchange Commission approved eleven spot bitcoin exchange-traded products, reversing course after denying more than twenty such applications over the previous decade. The funds began trading on 11 January 2024 and recorded about $4.6 billion in trading volume on the first day.
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Frequently asked questions
When did the SEC approve spot bitcoin ETFs?
On 10 January 2024, covering applications from eleven issuers, with trading beginning the next day.
How did these differ from earlier bitcoin ETFs?
They hold bitcoin directly, whereas the previously approved US products were based on bitcoin futures contracts.
Did the SEC endorse bitcoin by approving them?
No — Chair Gary Gensler's statement explicitly said the approval was not an endorsement of bitcoin, and the decision followed a long history of rejected applications.
Sources
Facts on this page were verified against the following sources.