The ruling opens the door to an investment product that investors have been demanding for years.
A spot bitcoin ETF would allow traditional investors to have exposure to the digital asset without actually owning it.
"This is a historic milestone for American investors, the Bitcoin ecosystem, and all those who have been advocating for Bitcoin exposure through the added protections of the ETF wrapper," Grayscale CEO Michael Sonnenshein said in a statement. "It's incredibly exciting that we are one step closer to making a US spot Bitcoin ETF a reality."
Grayscale is one of several firms that has applied for a spot bitcoin ETF. Earlier this year, BlackRock, Fidelity and Invesco, among others, sought permission to launch their own bitcoin funds.The information provided on this website is general in nature only and does not constitute personal financial advice. The information has been prepared without taking into account your personal objectives, financial situation or needs.
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