First Bitcoin ETFs get approved by U.S. regulators

After a decade of rejections, the US Securities and Exchange Commission (SEC) greenlights 11 spot Bitcoin exchange-traded funds (ETFs) from major players like Grayscale and Fidelity.

This historic decision marks a significant step toward mainstream adoption, providing traditional investors with easier access to the cryptocurrency market. While cautioning about associated risks, SEC Chairman Gary Gensler acknowledges the potential impact on institutional investors, possibly reshaping the landscape for crypto-focused companies.

“While we approved the listing and trading of certain spot bitcoin ETP shares today, we did not approve or endorse Bitcoin,” said SEC chairman Gary Gensler, in a statement. “Investors should remain cautious about the myriad risks associated with bitcoin and products whose value is tied to crypto.”