SEC approves spot BTC ETF products, Bitcoin retests $49k, Circle plans IPO | Weekly Recap
This week witnessed a historic development, as U.S. regulators approve d all 11 spot BTC ETF filings. Afterward, Bitcoin retested the $49,000 level for the first time in 24 months. Meanwhile, USDC issuer Circle filed to go public in the U.S. Developments around the spot BTC ETF This week, the crypto industry expected a decision from the Securities and Exchange Commission (SEC) on the multiple filings for spot BTC ETF products in the U.S. Several asset managers looking to launch the product filed amendments to include disclosures on fees for the products. As anticipation heightened, on Jan. 8, SEC chair Gary Gensler publicized a series of warnings on X, advising investors to be wary of the risks involved in exposure to cryptocurrency investments. These warnings carried a mixed undertone, interpreted differently by the crypto community. While some commentators believed it signaled an imminent approval of the ETFs, others asserted it could be a plan to reject the filings, citing...