by Luzi Ann Santos | moomoo News
The US Securities and Exchange Commission approved Wednesday the listing and trading of some spot Bitcoin exchange traded product (ETP) shares.
"We are now faced with a new set of filings similar to those we have disapproved in the past," SEC Chair Gary Gensler said in a statement on the government website. "Circumstances, however, have changed."
Sponsors of bitcoin ETPs will be required to provide full, fair, and truthful disclosure about the products, allowing investors to benefit from the disclosure included in public registration statements and required periodic filings.
These ETPs will be listed and traded on registered national securities exchanges which will be required to have rules designed to prevent fraud and manipulation, and we will monitor them closely to ensure that they are enforcing those rules, according to the SEC.
The commission will fully investigate any fraud or manipulation in the securities markets, including schemes that use social media platforms, it said.
"While we approved the listing and trading of certain spot bitcoin ETP shares today, we did not approve or endorse bitcoin," Gensler said. "Investors should remain cautious about the myriad risks associated with bitcoin and products whose value is tied to crypto."
Reuters and Bloomberg reported the approval earlier.