The US Securities and Exchange Commission approved the launch of exchange-traded funds to invest in Bitcoin

The publication calls the commission’s decision a “historic event” for the industry with a total volume of 1.7 trillion dollars, as the emergence of a Bitcoin ETF will give ordinary investors access to the cryptocurrency market.

According to a document published by the SEC, the regulator approved the launch of 11 Bitcoin ETFs. Shares of the funds will be traded on the New York Stock Exchange, Nasdaq and the Chicago Stock Exchange.

Bloomberg recalled that the commission did not approve the launch of a Bitcoin ETF for more than ten years. The positive decision came several months after the court determined that the regulator’s denial of Grayscale’s request to convert its current Bitcoin trust into an exchange-traded fund was unfounded.

SEC Commissioner Gary Gensler, quoted by Bloomberg, said that while the commission approved the launch of ETFs that invest in Bitcoin, investors should remain cautious about the risks associated with Bitcoin and products whose value is tied to the cryptocurrency. .

• The message that the regulator approved the launch of a Bitcoin ETF appeared the day before on the SEC’s X (formerly Twitter) account. After this, the head of the commission, Gary Gensler reported, that a decision has not yet been made on the ETF and that the account was hacked. Later information on the SEC account hack. confirmed in X itself.
• After the post was published, Bitcoin began to rise in price, but the message drastically collapsed its price. According to Reuters, the SEC, along with US law enforcement, is investigating the incident.