Big Finance Firms Seek Approval for Bitcoin and Ether Spot ETFs Amid Crypto Market Slump
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A number of filings for spot bitcoin and ether ETFs have been made recently, including from big traditional finance firms, sparking hope in the battered crypto market.
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A spot crypto ETF tracks the actual price of the crypto asset, offering exposure without direct ownership.
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The SEC had denied bitcoin spot ETFs before, citing fraud worries, but may now approve after a legal loss in August.
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There is a long pipeline of pending spot bitcoin and ether ETF applications.
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Some ether futures-tied ETFs have been approved recently.