Although the news fills the headlines, I do not see that there is enough enthusiasm to match the size of the news. Even the price movement of Bitcoin was not greatly affected, and there are no other events occurring simultaneously or of the same degree of importance.
The Chairman of the Securities Commission has announced that issuing this approval decision does not mean accepting Bitcoin at all:
https://www.sec.gov/news/statement/gensler-statement-spot-bitcoin-011023I think he didn't really mean what he said because approving the listing and trading of Bitcoin Spot ETPs explicitly means recognizing Bitcoin as the source of value upon which these products were approved. It seems like a statement for media consumption rather than an expression of the real position. This also reflects the attempt of the Securities Commission official to issue a decision that satisfies all parties, that is, he announced approval of the listing, driven by the strength of public opinion, and at the same time he announced that this does not mean accepting Bitcoin (a media statement as we mentioned), and that is to satisfy the faction that rejects the listing decision. And who consider it a danger to the financial market as a whole.