The U.S. Securities and Exchange Commission (SEC) has recently granted approval to the first-ever group of spot bitcoin exchange-traded funds (ETFs) in the United States. On Wednesday, the agency authorized 10 ETF sponsors, including prominent names like BlackRock, Invesco, Fidelity, Grayscale, and Ark Invest. Consequently, these ETFs are now poised to commence trading as early as this week.
While the approval was widely anticipated, it did face a minor setback due to a social media hacking incident. On Tuesday, a false statement claiming that the SEC had greenlit a bitcoin ETF was posted on the agency’s social media account on X, formerly known as Twitter. Later, the SEC clarified that its account had been compromised.
The official approval on Wednesday signifies a significant milestone for the cryptocurrency market. It will enable investors to access bitcoin through a wider range of avenues, not just by holding the token itself, but also through established financial instruments traded on regulated stock exchanges.
Source (CNBC)
