The US Securities and Exchange Commission has granted approval to ETF Cryptocurrency Funds, allowing them to track the price movements of Bitcoin. The regulatory agency announced this decision in a statement. Amendments to the regulations have also been approved, enabling the creation of ETF investment funds. Investors will now have direct access to the cryptocurrency market, as well as stocks and bonds.

For nearly a decade, US authorities have been considering granting ETF funds the ability to trade on exchanges while managing market volatility. On Monday, news spread on social media, particularly on Twitter, that the regulatory agency had approved the ETF funds. However, it was later revealed that the agency’s account had been hacked.

ETF funds are becoming increasingly popular among investors due to their stable dollar-denominated activities. The US authorities’ decision, according to analysts, will contribute to the growing demand for Bitcoin and the direct purchase of cryptocurrency through the funds, thereby affecting its exchange rate.

News from Armenia – NEWS.am