The U.S. Securities and Exchange Commission just approved the first-ever batch of spot bitcoin exchange-traded funds to come out of the U.S.
The agency gave the green light on Wednesday to sponsors of 10 ETFs, including BlackRock, Invesco, Fidelity, Grayscale, and Ark Invest — paving the way for these funds to begin trading as soon as this week.
The move was largely expected, even after a social media hacking snag. A false statement saying the regulator had approved a bitcoin ETF was published on Tuesday on the SEC’s social media account on X, formerly known as Twitter. The agency later clarified its account had been compromised.
The actual approval on Wednesday marked a massive step for the cryptocurrency, as it will give investors increased ways to gain exposure to the token — not just from holding it directly, but via existing financial instruments that trade on a regulated stock exchange. cnbc