US regulators gave the go-ahead for the launch of Bitcoin ETFs, greatly expanding access to the 15-year-old digital currency.
On Wednesday, the Securities and Exchange Commission approved key applications from various markets looking to list these groundbreaking products, which will start trading on Thursday.
Around ten companies, including big names like BlackRock, Fidelity, and Grayscale, were seeking to establish Bitcoin ETFs.
In the past few days, these companies have announced and adjusted the fees they plan to charge investors, indicating that a fierce competition to attract investors’ funds is looming.
These ETFs will hold actual Bitcoin, unlike the previously approved BTC futures ETFs, which hold derivatives contracts linked to the cryptocurrency.
The SEC’s decision to greenlight these ETFs comes after years of delays and rejections of multiple attempts to launch spot bitcoin ETFs.
