Bitcoin ETFs get green light from US regulator

A milestone for the crypto industry

On Wednesday, the US Securities and Exchange Commission (SEC) gave its nod to the first exchange-traded funds (ETFs) that track the price of bitcoin, the world’s largest cryptocurrency. This is a breakthrough for the crypto industry, which has been seeking regulatory approval for such products for years.

The SEC approved 11 applications from some of the biggest names in the financial sector, including BlackRock, Fidelity, Invesco, and VanEck, to offer bitcoin ETFs. These products, which could start trading as early as Thursday on platforms like Nasdaq, will allow investors to buy and sell shares of funds that hold bitcoin without dealing with the complexities and risks of owning and storing the digital asset directly.

Read More:Bitcoin ETFs get green light from US regulator