NEW YORK: Several exchange-traded funds (ETFs) tied to the spot price of bitcoin began trading in the US on Thursday in a landmark moment for the cryptocurrency industry that has been seeking regulatory approval for the financial product for over a decade.
The green light by the US Securities and Exchange Commission finally came late on Wednesday following months-long talks with top asset managers such as BlackRock, Ark Investments/21Shares, Fidelity, Invesco and VanEck.
The regulator approved 11 such ETFs, paving the way for popularizing investments in the world’s biggest crypotcurrency without the risk of holding the digital token directly.
Comments
Comments are closed for this article.