Bitcoin ETFs Commence Trading After SEC Gives Green Light to These 11 ETFs, This Time For Real

The good news came just one day after the dramatic SEC Twitter hack false approval opening the door for everyday investors to gain Bitcoin exposure without holding the cryptocurrency itself.

On Wednesday, the U.S. Securities and Exchange Commission (SEC) officially announced the approval of 11 Bitcoin (BTC) ETFs, giving the ETFs the green light to list on the United States stock market.

The good news for Bitcoin holders came one day after Tuesday’s Twitter hack drama which saw the BTC ETFs falsely approved after a hacker hijacked the SEC’s Twitter account and posted the following fraudulent tweet:

“Today the SEC grants approval for #Bitcoin ETFs for listing on all registered national securities exchanges. The approved Bitcoin ETFS will be subject to ongoing surveillance and compliance measures to ensure continued investor protection. Today’s approval enhances market transparency and provides investors with efficient access to digital asset investments within a regulated framework.”

The price of Bitcoin immediately rallied in response to what seemed to all like the long-awaited ETF approval, but the hype train was quickly derailed with news of the hack breaking after SEC chairman Gary Gensler took to Twitter, tweeting:

“The SECGov Twitter account was compromised, and an unauthorized tweet was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.”

The rollercoaster of a day saw Bitcoin down around -2.5% Tuesday evening, with BTC holders going to bed with dashed hopes.

Source: CNBC Television YouTube

However, the following day would see those hopes reinvigorated, as BTC holders received great news, with the SEC announcing the approval of 11 Bitcoin ETFs to list on the major U.S. stock exchanges.

Along with the regulator agency’s BTC ETF approval, SEC chairman Gary Gensler made it very clear in the press release that this approval did not constitute an endorsement of Bitcoin, with the SEC chair writing:

“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.”

The list of Bitcoin ETF applicants approved by the SEC on Wednesday featured many Wall Street and crypto industry heavyweights, including the following companies:

• BlackRock (NYSE: BLK)
• ARK Invest (NYSE Arca: ARKK)
• Franklin Templeton (NYSE: BEN)
• Fidelity (NYSE: FNF)
• Invesco (NYSE: IVZ)
• WisdomTree (NYSE: WT)
• VanEck
• Hashdex
• Valkyrie
• Grayscale

In addition to the SEC approval, the Chicago Board Options Exchange (CBOE) also approved all six of its Bitcoin ETF applicants on Wednesday, releasing new issue notifications for the following BTC ETFs, all of which began trading today:

• ARK 21Shares Bitcoin ETF (CBOE: ARKB) | -6.48%
• Fidelity Wise Origin Bitcoin Fund (CBOE: FBTC) | -2.64%
• Franklin Bitcoin ETF (CBOE: EZBC) | -6.17%
• Invesco Galaxy Bitcoin ETF (CBOE: BTCO) | -3.32%
• Vaneck Bitcoin ETF (NYSE Arca: HODL) | -4.13%
• WisdomTree Bitcoin Fund (CBOE: BTCW) | -3.61%

Also approved and commencing trading today on the NASDAQ and NYSE were the following Bitcoin ETFs:

• iShares Bitcoin Trust ETF (NASDAQ: IBIT) | -4.69%
• Valkyrie Bitcoin Fund (NASDAQ: BRRR) | -5.74%
• Bitwise Bitcoin ETF (NYSE: BITB) | -4.70%
• Hashdex Bitcoin ETF (NYSE: DEFI) | +1.50%
• Grayscale Bitcoin Trust ETF (NYSE Arca: GBTC) | +0.48%

Bitcoin (BTC) is currently changing hands at $61,494.60, down -0.9% on the day. YTD, BTC is up +9.21%.

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Also Read: SEC Twitter Hijacked, Hacker Posts Fraudulent Bitcoin ETF Approval, BTC Jumps to Multi-Year High

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Disclaimer: Wealthy VC does not hold a position in any of the stocks, ETFs or cryptocurrencies mentioned in this article.