Bitcoin holds firm after regulators approve ETFs
Bitcoin holds firm after regulators approve ETFs Bitcoin held steady on Thursday after regulators approved the first U.S.-listed exchange traded funds (ETFs) to track the world’s largest cryptocurrency, seen as a landmark move that could broaden its appeal to investors. The Securities and Exchange Commission (SEC) said on Wednesday it approved 11 applications, including from BlackRock, Ark Investments/21 Shares, Fidelity, Invesco and VanEck, with most of the products expected to begin trading later in the day. Bitcoin was little changed in Asian hours and was last at $46,337. “The approval of these spot bitcoin ETFs is a pivotal moment in the evolution of the cryptocurrency market,” said Brett Tejpaul, head of Coinbase Institutional. “With major asset managers bringing the world of digital assets to millions through this regulated product, these ETFs are set to catalyse industry growth, unlocking trillions in new capital.” Follow us onTwitter,Facebook,LinkedIn
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