The regulatory greenlight has been anticipated for several months and the price of bitcoin has jumped about 70% since October.
In a twist perhaps appropriate for the unpredictable crypto industry, a fake tweet from the Securities and Exchange Commission’s account on X Tuesday stated that trading of bitcoin ETFs had been approved.
It had not.
The price of bitcoin swung higher, and then sank when the SEC said no approval had been granted and its account had been hacked.
Here are some things to know about bitcoin ETFs.
WHY ALL THE EXCITEMENT OVER A BITCOIN ETF?
An exchange-traded fund, or ETF, is an easy way to invest in something or a group of things, like gold or junk bonds, without having to buy the things themselves. Unlike traditional mutual funds, ETFs trade like stocks, which means they can be bought and sold throughout the day.
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