SEC Kickstarts Approval Process For Spot Bitcoin ETFs: BlackRock, Fidelity Among Applicants

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The U.S. Securities and Exchange Commission (SEC) is set to initiate the approval process for Spot Bitcoin ETFs, with eight different applicants listed on the federal register. The SEC has also invited public feedback through a document released last week. Leading asset management firms, BlackRock (NYSE: BLK) and Fidelity, are among the entities that have submitted Spot Bitcoin (CRYPTO: BTC) ETF applications in recent weeks. Despite the influx of applications, the SEC has yet to approve any such service. However, the involvement of established financial institutions has led some to speculate t…

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