US SEC approves 11 spot bitcoin ETFs

FILE PHOTO: U.S. Securities and Exchange Commission logo and representations of cryptocurrency are seen in this illustration taken June 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - The U.S. Securities and Exchange Commission has approved 11 spot bitcoin exchange-traded funds, including those of Grayscale, Bitwise and Hashdex, according to a statement on Wednesday.

The approval would be a game-changer for bitcoin, offering institutional and retail investors exposure to the world's largest cryptocurrency without directly holding it, and a major boost for a crypto industry beset by a string of scandals.