Bitcoin: Crypto fans can now invest in exchange-traded funds - but what are they? - BBC News

Long-awaited approval from US financial authorities means cryptocurrency fans have a new way to trade.

16 hours agoShareclose panelShare pageCopy linkAbout sharingImage source, Getty ImagesBy Joe TidyCyber correspondentThe US has made the long-awaited decision to allow Bitcoin to be part of mainstream investing funds.

It has approved what are known as spot Bitcoin exchange-traded funds (ETFs), which can be purchased by anyone from pension funds to ordinary investors.

The announcement from the head of the Securities and Exchange Commission was accompanied by a stern warning about risks associated with the asset.

But cryptocurrency fans reacted with glee - and memes about becoming rich.

The US financial watchdog had repeatedly rebuffed earlier requests for approvals, citing concerns about potential for fraud and manipulation.

https://www.bbc.co.uk/news/technology-67916142?at_medium=RSS&at_campaign=KARANGA

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