SEC Accelerates Approval for Spot Bitcoin ETFs, Opening the Door for Large Inflows

SEC has approved proposals for 11 spot bitcoin ETFs on an accelerated basis, with potential large inflows of funds expected once trading begins. Various companies, including VanEck, Bitwise, and BlackRock, have lined up seed funding for their ETFs. Prior to approval, issuers had been competing to offer the lowest fees, with Bitwise leading the charge with zero fees for the first six months or until $1 billion of assets.