Opinion: SEC’s Approval of Spot Bitcoin ETFs Is Nothing Short of Monumental

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ETFs simplify the ways people can invest in Bitcoin by allowing them to hold and track their shares of Bitcoin ETFs in the same brokerage account they use for their other investments. Photo: VCG

The U.S. Securities and Exchange Commission (SEC) last month gave its approval for the listing and trading of some spot Bitcoin exchange-traded funds (ETFs) — a monumental moment marking mainstream finance’s acceptance of digital assets.

Between 2021 and 2022, around $2 trillion in crypto market value vanished due to poor market conduct, deficient risk management and fraud. Global regulators responded by heavily regulating the industry. Despite this teething pain, the price of Bitcoin rebounded, soaring more than 150% in 2023. The surge was driven by renewed positive sentiment and expectations of regulatory affirmation.