Perhaps the biggest surprise of all is that Bitcoin did nothing after 11 ETFs approved. They are supposed to start trading today.
After a false start on Tuesday, the Securities and Exchange Commission gave its approval on Wednesday to some investment firms to offer “spot bitcoin” exchange-traded funds.
SEC Chairman Gary Gensler also made clear in a statement on the SEC's website that the agency remains cautious.
Although we have approved the listing and trading of certain spot Bitcoin shares traded on the exchange today, we have not approved or endorsed Bitcoin.
Investors must remain cautious about the myriad risks associated with Bitcoin and products whose value is tied to cryptocurrencies.
As we mentioned here yesterday, what happened because of the false publication may be what will happen if the launch of ETFs is actually approved.
