SEC approves first bitcoin investment funds after false start

The Securities and Exchange Commission (SEC) approved nearly a dozen exchange-traded funds (ETFs) holding bitcoin on Wednesday, the first time the agency has permitted the trading of funds directly invested in a cryptocurrency.

The SEC approved 11 spot bitcoin ETFs from several major companies, including BlackRock, Fidelity and Grayscale Investments, as it faced down a deadline to rule on at least one of the applications.

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