#SECETF审批 US SEC Approves Bitcoin Spot ETF: A Milestone Event for the Cryptocurrency Market

In January 2024, the U.S. Securities and Exchange Commission (SEC) officially approved 11 Bitcoin spot ETFs, including products issued by institutions such as BlackRock and Fidelity. This decision ends a decade-long tug-of-war and marks the formal entry of cryptocurrencies into the mainstream financial market. Spot ETFs allow investors to hold Bitcoin through traditional stock accounts without the need to directly manage private keys, significantly lowering the entry threshold for both institutional and individual investors. After the approval, Bitcoin prices experienced increased short-term volatility, but in the long run, the incremental funds brought by the ETFs are expected to propel the cryptocurrency market into a new phase.