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Did SEC approve bitcoin ETFs?

Gary Gensler's SEC just approved bitcoin ETFs. (Jesse Hamilton/CoinDesk) U.S. Securities and Exchange Commission Chair Gary Gensler released this statement after the regulator approved spot bitcoin ETFs: Jan. 10, 2024 Today, the Commission approved the listing and trading of a number of spot bitcoin exchange-traded product (ETP) shares.

Can exchange-traded funds be used to invest in Bitcoin?

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.

Why did the SEC approve a bitcoin fund in 2021?

In 2021, the S.E.C. approved funds that track the fluctuations of Bitcoin without holding the currency itself. But the agency argued that a fund that contained Bitcoin would pose big risks to consumers, citing illegal manipulation of crypto prices, among other issues. Those arguments failed in court.

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