Tag: ARK Invest

SEC Approves 11 Spot Bitcoin ETFs Read more

In a significant move that has reverberated throughout the financial world, the Securities and Exchange Commission (SEC) announced its approval of 11 spot bitcoin exchange-traded funds (ETFs) on Wednesday. Among the asset managers set to launch these ETFs are industry giants such as BlackRock, Fidelity, Grayscale, and ARK Invest.However, the announcement was not without its share of drama. Just a day prior, the SEC's official Twitter account mistakenly posted news of the approval, only to swiftly retract it 15 minutes later, citing a compromised account.The anticipation surrounding the SEC's decision has fueled speculation in recent months, driving bitcoin to impressive gains. Since October, the cryptocurrency has surged by 70%, reaching a price of over $46,000.Despite the approval, SEC Chair Gary...