Get the latest tech news

US SEC finally approves Bitcoin ETFs

The Securities and Exchange Commission (SEC) has approved the first US-listed exchange traded funds (ETF) to track bitcoin

The go-ahead has been given to 11 exchange funds for Bitcoin which will open the door to cryptocurrency for many new investors although there is still a considerable degree of skepticism from the authorities toward it, as reported by The Guardian. This represents diversification for Bitcoin, as up to this point, any interested parties would be required to obtain a digital wallet or open an account with a trading platform such as Binance or Coinbase. The Guardian report also noted the price of Ethereum, the second-most popular cryptocurrency form, has spiked on speculation that fund managers will now create ETFs around it, on the back of the listing for Bitcoin.

Get the Android app