The U.S. Securities and Exchange Commission (SEC) approved on Wednesday the first U.S.-listed exchange-traded funds (ETFs) to track bitcoin. Experts described it as a watershed moment for both the world’s largest cryptocurrency and the broader crypto industry.
The announcement follows a turbulent 24 hours for the decentralized digital currency. A post on X, published on the SEC account Tuesday, announced the approval of the long-awaited ETFs. This caused bitcoin’s price to surge by more than $1,000. Shortly thereafter, the SEC declared that its account had been “compromised” and the post was “unauthorized.”
