Major cryptocurrencies surged on Wednesday evening after U.S. regulators gave thegreen light to Bitcoin ETFs. What Happened: The Securities and Exchange Commission (SEC) announced the approval of crucial filings from the markets aiming to list these products, which are set to commence trading on Thursday.Bitcoin’s price surged past $47,500 after the announcement, leading to a rally in other altcoins too. Around twelve prominent companies, including BlackRock, Fidelity, and Grayscale, have applied to establish BTC ETFs. These ETFs are spot-based, meaning they hold actual bitcoin, as opposed to …

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