There is a Securities and Exchange Commission applications of 11 spot bitcoin ETFs in a highly anticipated decision that will make it much easier for people to engage in cryptocurrency investing without directly buying and holding bitcoins. Confirmation temporarily comes a day after the hack took it Opened the SEC’s X account and posted a fake tweet saying bitcoin ETFs had been approved by the regulator.
The approval is an important milestone for crypto investors who have been trying to win SEC approval for investment funds that have held bitcoin for years. With approval, 11 such funds will be listed on state exchanges.
United States financial regulators have long been wary of bitcoin and other cryptocurrencies statement, SEC Chairman Gary Gensler wasn’t exactly effusive about bitcoin’s merits. “Bitcoin is primarily a speculative, volatile asset, and it is also used for illegal activity, including ransomware, money laundering, sanctions evasion, and terrorist financing.”
“While we have approved the listing and trading of certain spot bitcoin ETP shares today, we have not endorsed or endorsed bitcoin. “Investors should be wary of the myriad risks associated with bitcoin and crypto-linked products.”
Gensler may have more reason than ever to be cautious. On Tuesday, a day before the SEC’s ruling on bitcoin ETFs, the SEC’s official X account . The attackers posted a fake tweet claiming that the funds had been verified, causing a temporary spike in the price of bitcoin. The SEC said it is working with the FBI and Inspector General to investigate the matter.