- The U.S. SEC has approved 11 applications for Bitcoin ETFs including from BlackRock, Invesco, and ARK.
- Funds are expected to start trading as early as Thursday.
- SEC Chair Gensler has said that the move was “the most sustainable path forward”, but highlighted that they did not endorse bitcoin which is risky and volatile.
- Bitcoin prices have jumped more than 2 per cent since the announcement.
In case you missed it, Bitcoin exchange traded funds (ETFs) are now officially a thing!
Source: SpongeBob SquarePants | Giphy
Yes, the U.S. Securities and Exchange Commission has approved the first U.S.-listed ETFs to track bitcoin.
You can now invest in Bitcoin, the world’s largest cryptocurrency, without directly holding it.
But what does this really mean for us and the crypto market?
TL;DR: Bitcoin ETFs Have Been Approved By the U.S. SEC
