© Reuters.
The Securities and Exchange Commission has approved 11 exchange-traded funds for , the regulator announced Wednesday. The announcement came a day after unauthorized access to the SEC’s X account, previously known as the Twitter account (NYSE:), where the same information was falsely distributed.
The authorization covers exchange-traded funds from Grayscale, Bitwise and Hashdex, among others.
Grayscale verified that it had obtained approval from the Securities and Exchange Commission to transform its Grayscale Bitcoin Trust into a spot bitcoin exchange-traded fund.
Securities and Exchange Commission Chairman Gary Gensler said the court ruling in favor of Grayscale influenced the decision to grant approval.
This authorization is expected to significantly change the bitcoin market by providing institutional and individual investors with the opportunity to invest in the world’s most popular cryptocurrency without having to own it directly.
Bitcoin’s most recent value rose slightly to $45,706. Its value has increased 67% in the past three months, driven by expectations over the approval of exchange-traded funds.
This article was produced and translated with the help of artificial intelligence and has been reviewed by an editor. For further details, please see our terms and conditions.