Summary
The first US exchange-traded funds (ETFs) that directly invest in Bitcoin have started trading, leading to billions of dollars being exchanged and a brief surge in the token’s value. The US Securities and Exchange Commission approved the ETFs after markets closed on Wednesday.
Key Points
1. The first US exchange-traded funds (ETFs) that directly invest in Bitcoin have started trading, making it easier for individuals to invest in the cryptocurrency.
2. Following the approval by the US Securities and Exchange Commission (SEC), billions of dollars were exchanged on Thursday, leading to a temporary surge in Bitcoin’s price to over $49,000.
3. This development marks a significant milestone in the acceptance and mainstream adoption of cryptocurrencies, particularly Bitcoin, as a legitimate investment asset class.