The SEC has approved bitcoin ETFs. What are they and what does it mean for investors?
The US securities regulator has approved the first US-listed exchange traded funds (ETF) to track bitcoin, in a watershed moment for the world’s largest cryptocurrency and the broader crypto industry.
The announcement came at the end of a tumultuous 24 hours for the popular cryptocurrency, which saw a post on X sent from the account of the Securities and Exchange Commission (SEC) announcing the approval of the long-awaited ETFs on Tuesday, leading the price of bitcoin to spike by more than $1,000. Soon after, the SEC said its account had been “compromised” and that the post was “unauthorised”.
By Wednesday however, the SEC had approved the ETFs – this time for real – adding that it remained sceptical about cryptocurrencies.
What has been approved? The SEC has given the green light to 11 ETFs for bitcoin in the US, opening the door to cryptocurrencies to many new investors who don’t want to take the extra steps involved in buying actual bitcoin.
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#BTC spot ETF approved, bullrun next?#
The SEC has approved bitcoin ETFs. What are they and what does it mean for investors?
The US securities regulator has approved the first US-listed exchange traded funds (ETF) to track bitcoin, in a watershed moment for the world’s largest cryptocurrency and the broader crypto industry.
The announcement came at the end of a tumultuous 24 hours for the popular cryptocurrency, which saw a post on X sent from the account of the Securities and Exchange Commission (SEC) announcing the approval of the long-awaited ETFs on Tuesday, leading the price of bitcoin to spike by more than $1,000. Soon after, the SEC said its account had been “compromised” and that the post was “unauthorised”.
By Wednesday however, the SEC had approved the ETFs – this time for real – adding that it remained sceptical about cryptocurrencies.
What has been approved?
The SEC has given the green light to 11 ETFs for bitcoin in the US, opening the door to cryptocurrencies to many new investors who don’t want to take the extra steps involved in buying actual bitcoin.
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