More Americans will be able to buy virtual currency thanks to the U.S. saying yes to new funds

The US Securities and Exchange Commission (SEC) has approved the first spot Bitcoin exchange-traded funds (ETFs) for investors. The SEC had earlier rejected several applications to create an exchange traded fund (ETF) for cryptocurrencies saying they are “unsafe and volatile”. Earlier, a federal court had ruled that the SEC’s refusal to approve a Grayscale ETF was “arbitrary and capricious”.