U.S. SEC Chairman Gary Gensler issued a statement titled "On the Approval of Spot Bitcoin Exchange Traded Products", stating that today the SEC has approved the listing and trading of some spot bitcoin exchange traded product (ETP) stocks. Today's SEC action is limited to ETPs holding a non-security commodity, Bitcoin, which should not imply that the SEC is willing to approve listing standards for crypto asset securities. "Although we have approved the listing and trading of certain spot Bitcoin ETP stocks today, we have not approved or endorsed Bitcoin. Investors should be cautious about countless risks associated with products related to Bitcoin and value related to cryptocurrencies."