A ruling Wednesday clears the way for the first U.S. exchange-traded funds that hold bitcoin to be sold to the public.
The decision by the Securities and Exchange Commission will allow mainstream investors to buy and sell bitcoin as quickly as stocks and mutual funds. Expectations of U.S. regulatory approval for such funds drove the price of bitcoin to the highest level in about two years. The digital currency fell to just below $46,000 late Wednesday, up from $17,000 in January 2023.