The US Securities and Exchange Commission (SEC) has initiated the review process for several Bitcoin exchange-traded funds (ETFs) applications submitted by financial institutions such as BlackRock, Fidelity, WisdomTree, VanEck, and Invesco. The SEC's acknowledgment marks a critical step towards bridging the gap between digital assets and mainstream investors, potentially attracting billions of dollars in new investments. However, approval at this stage is not guaranteed, and applicants have included surveillance-sharing agreements in their filings to address market manipulation concerns that could sway the SEC's decision. The outcome will undoubtedly influence future cryptocurrency ETFs and the overall regulatory landscape for digital assets.