Daisy Watts 
Jan 11, 2024
The US Securities and Exchange Commission has finally approved Bitcoin (BTC) exchange-traded funds 15 years after the crypto industry came into being.
This approval has allowed BTC, the world’s most traded and renowned cryptocurrency, to comprehensively penetrate and transform the very financial realm it was introduced to challenge.
The Bitcoin ETFs that the regulator has approved are available to investors associated with Grayscale, Fidelity, BlackRock, and others, as reported by The Verge.
Read more: ETF approval's fake post from SEC social media account startles industry
In an official statement released by the regulators, SEC chairman Gary Gensler said, “While we approved the listing and trading of certain spot bitcoin ETP shares today, we did not approve or endorse Bitcoin.”
The chairman also warned that “Investors should remain cautious about the myriad risks associated with Bitcoin and products whose value is tied to crypto.”
In the past decade, the SEC has consistently said no to any plans for a Bitcoin ETF, which is basically a bunch of assets grouped together, kind of like a mutual fund.
However, the key difference is that these bundles are traded on stock exchanges, simplifying it for people to buy and sell them, allowing them to invest in Bitcoin without the hassle of creating their own digital wallet. For some onlookers, this makes diving into the world of cryptocurrency much more appealing.
This approval didn't really shake up Bitcoin’s value. However, a Bitcoin ETF could open the door for regular big investors to get into the crypto game. These groups might be able to take a shot at predicting Bitcoin prices for the first time, increasing the overall demand for Bitcoin.
