The US Securities and Exchange Commission (SEC) announced on Wednesday that it has made the decision to give its approval to 11 applications to launch Bitcoin-based exchange traded funds (ETFs).
In particular, the approved applications have been from Bitwise, Grayscale, Hashdex, BlackRock, Valkyrie, BZX, Invesco, VanEck, WisdomTree, Fidelity and Franklin Templeton.
Subscribe to our Telegram channel to get weekly short digests about events that shape the crypto world
Trading is reportedly expected to begin Thursday.
According to the document:
"After careful review, the Commission finds that the Proposals are consistent with the Exchange Act and rules and regulations thereunder applicable to a national securities exchange."
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange
Notably, the SEC has also released a speech by Chairman Gary Gensler:
"While we approved the listing and trading of certain spot bitcoin ETP shares today, we did not approve or endorse bitcoin. Investors should remain cautious about the myriad risks associated with bitcoin and products whose value is tied to crypto."