U.S. securities regulator, U.S. Securities and Exchange Commission (SEC), has approved the first U.S.-listed exchange-traded funds (ETFs) to track bitcoin.

The approval comes after applications from firms like BlackRock, Ark Investments, 21Shares, Fidelity, Invesco, and VanEck.

 The ETFs, expected to commence trading as early as Thursday, will allow institutional and retail investors to gain exposure to the world's largest cryptocurrency

Analysts predict the ETFs could attract $50 billion to $100 billion in funds this year, potentially increasing bitcoin's price.

The approval of ETFs is seen as a significant development, enhancing the credibility and acceptance of bitcoin.

In a 'pivotal' step for the cryptocurrency industry, the United States regulator has finally given its approval to the Bitcoin exchange-traded fund (ETF).

A Bloomberg analyst raises questions about Matrixport's argument that the Bitcoin ETF could be rejected.

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