First Bitcoin ETFs approved by US regulators
Fifteen years after the genesis block was mined (and after one false announcement), the US Securities and Exchange Commission approved Bitcoin exchange-traded funds. Bitcoin has fully joined the financial system it was built to challenge. The decision will make 11 spot Bitcoin ETFs available to investors, such as those from Grayscale, Fidelity, BlackRock, and more.
“While we approved the listing and trading of certain spot bitcoin ETP shares today, we did not approve or endorse Bitcoin,” said SEC chairman Gary Gensler, in a statement. “Investors should remain cautious about the myriad risks associated with bitcoin and products whose value is tied to crypto.”
For the last 10 years, the SEC has denied every attempt to create a Bitcoin ETF,...