SEC Approves New Bitcoin ETFs, in Boon for Crypto Industry – The New York Times

Federal regulators on Wednesday approved a new financial product that tracks the price of Bitcoin, a landmark moment for the cryptocurrency industry that proponents hope will increase investment in the technology.

The Securities and Exchange Commission authorized 11 applications to offer exchange-traded funds tied to Bitcoin, a potentially simpler way for people to invest in digital assets. Some of the largest financial firms in the world, including the asset managers BlackRock and Fidelity, were approved to offer the products, known as E.T.F.s, which could begin trading as soon as Thursday on traditional platforms like the Nasdaq.

Source: SEC Approves New Bitcoin ETFs, in Boon for Crypto Industry – The New York Times