A historic and unique event for global markets: The SEC has officially granted approval for a Bitcoin ETF

The U.S. Securities and Exchange Commission (SEC) has granted approval to 11 Bitcoin exchange-traded funds (ETFs), paving the way for numerous new investors to explore the world of cryptocurrencies.

Since bitcoin’s inception, anyone wanting to own one would either have to adopt a digital wallet or open an account at a crypto trading platform like Coinbase or Binance.

From now on, bitcoin funds will be traded on stock exchanges and all you need to do to get bitcoins is to buy a bitcoin ETF.

An ETF is an easy way to invest in assets or a group of assets without having to directly buy the assets themselves. For example, the SPDR Gold Shares ETF allows anyone to invest in gold without having to find a place to store a bar or protect it. ETFs can also be easily traded on stock exchanges.

The decision to approve the ETFs is a major win for huge fund managers like BlackRock, Fidelity Investments and Invesco who will manage the funds – and have pushed hard to get the SEC to approve them. Some products are expected to begin trading today, kicking off a fierce competition for market share.

The anticipation of the ETF also appears to have boosted the price of bitcoin in recent months. Some crypto advocates believe the arrival of bitcoin ETFs will unleash new demand for asset class.

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This page was last updated 13.01.2024 14:34