Sources report that bitcoin spot ETF is going to be approved by the SEC for *multiple* firms' applications, with news expected tomorrow

Sources report that bitcoin spot ETF is going to be approved by the SEC for *multiple* firms' applications, with news expected tomorrow

The Securities and Exchange Commission (SEC) of the United States is reportedly on the verge of approving applications for spot Bitcoin exchange-traded funds (ETFs) from multiple companies, according to sources close to the matter.

More details are expected to be revealed soon. The cryptocurrency market has been eagerly anticipating this approval, and traders are optimistic about receiving positive news. In response to the speculation,

Bitcoin rose by 3.49% to $44,329, and Ethereum increased by 2.96% to $2,275. Firms like Grayscale, Ark Investments, Valkyrie, and VanEck have recently filed Form 8-As, indicating progress toward potential spot Bitcoin ETFs.

This move represents the registration necessary for trading on an exchange once the product is approved. Fidelity also filed its Form 8-A recently, adding to the momentum in the space.