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SEC Approves First Spot Bitcoin ETFs, Signaling Major Shift in Crypto Regulation

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This article was originally published at StateOfUnion.org. Publications approved for syndication have permission to republish this article, such as Microsoft News, Yahoo News, Newsbreak, UltimateNewswire and others. To learn more about syndication opportunities, visit About Us.

The U.S. Securities and Exchange Commission (SEC) has approved the first spot bitcoin exchange-traded funds (ETFs), marking a significant shift in the commission’s stance on cryptocurrency.

This decision, following the approval of eleven ETFs, allows for a more regulated and accessible route for investing in bitcoin.

The move is seen as a recognition of bitcoin as a traditional investment and is expected to open doors to Wall Street. (Trending: Anthony Fauci Questioned About Evidence Behind COVID Restrictions)

“We want to make sure that we provide access and make it as accessible as possible… We are not looking to maximize profits on this,” Ark Invest’s Cathie Wood said.

“We’ve got other actively managed products that will help us.”

Despite concerns, the approval provides U.S. investors with regulated exposure to bitcoin, mitigating risks associated with unregulated exchanges and higher costs of bitcoin futures ETFs.

The approval “is a historic mistake that will not only unleash crypto predators on tens of millions of investors and retirees but will also likely undermine financial stability,” Better Markets president Dennis Kelleher said.

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