$SOL #ARB #etf

The SEC has approved proposals from 11 companies for Bitcoin ETFs that directly hold Bitcoin. This is a significant shift in the cryptocurrency market, as it differs from previous Bitcoin futures ETFs based on derivatives contracts. As a result, the prices of Bitcoin and Ethereum increased significantly and are currently trading at $46,101.45 and $2,589.78, respectively, triggering a rally in other altcoins, as shown by the crypto analytics platform Santiment.

> Some of the leading financial players, such as BlackRock, Fidelity, and Grayscale, are among the 12 firms launching these BTC ETFs. This development follows a crucial court ruling in August that overturned the SEC's rejection of Grayscale's spot ETF proposal. The SEC Chair, Gary Gensler, cited this court loss as a major factor in the recent approvals.