The US Securities and Exchange Commission has approved eleven spot bitcoin ETFs, including ones from Grayscale, Fidelity, and Bitwise. In a statement, a Grayscale spokesperson said the SEC "approved our application to uplist the shares of Grayscale Bitcoin Trust to NYSE Arca as a spot Bitcoin ETF." SEC Chairman Gary Gensler made it clear in a statement, however, that he is still not a fan of bitcoin, writing "bitcoin is primarily a speculative, volatile asset that’s also used for illicit activity including ransomware, money laundering, sanction evasion, and terrorist financing. While we approved the listing and trading of certain spot bitcoin ETP shares today, we did not approve or endorse bitcoin." The news comes a day after the SEC's X account was compromised and a false statement about the approvals was posted. The ETFs could start trading as soon as Thursday. Yahoo Finance's Julie Hyman, Josh Lipton, Jennifer Schonberger, and David Hollerith report the breaking details. About Yahoo Finance: Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life. - Get the latest news and data at finance.yahoo.com - Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO) - Follow Yahoo Finance on social: X: http://twitter.com/YahooFinance Instagram: https://www.instagram.com/yahoofinance/?hl=en TikTok: https://www.tiktok.com/@yahoofinance?lang=en Facebook: https://www.facebook.com/yahoofinance/ LinkedIn: https://www.linkedin.com/company/yahoo-finance