Bitcoin, as of Thursday morning, was up more than 5% over the last 24 hours, to about $47,600, after the Securities and Exchange Commission said in a filing on Wednesday that it had approved 11 applications to create the first generation of spot Bitcoin ETFs in the U.S. The second-most-popular cryptocurrency, Ether, was up double digits, with a 10% rally pushing it above $2,600.
Wednesday's approval comes after hackers took over the regulator’s X/Twitter account on Tuesday and sent a fake post announcing the approval of the pending spot Bitcoin applications. The fake out spurred a flurry of excited tweets before SEC Chairman Gary Gensler alerted potential investors to the hack, a correction that led to myriad memes and ridicule of the agency online.
