To The Moon

Over $4.6 billion changed hands across the Bitcoin fundsConverted GBTC registers most first day of ETF trading everThe first US ETFs that directly hold Bitcoin got off to a strong start, with billions

Bitcoin traded higher Thursday after the Securities and Exchange Commission gave the green light for the first-ever spot bitcoin ETFs to trade in the U.S., as expected.The cryptocurrency was last up m

Regulators have given the green light to the first U.S. exchange-traded funds that directly hold bitcoin. Crypto enthusiasts hope the new funds -- backed by asset managers such as BlackRock and Fidelity Investments -- will draw more mainstream investors into bitcoin.In many ways, the new ETFs are similar to the gold ETFs that emerged in the early 2000s and became a popular way to invest in the precious metal. Instead of buying physical bars of gold, investors could buy shares in a gold fund through their brokerage, just like buying stocks.Similarly, the new spot bitcoin ETFs are designed to make it easier to buy bitcoin. You won't need to set up a digital wallet and memorize your keys, and you won't need to create an account at a crypto exchange. You can just use the same brokerage account that you might already use to trade stocks, bonds and other ETFs.Suppose a stampede of investors buys shares of the bitcoin ETF. Seeing the upswell in demand, the authorize

From 'unauthorized' tweets to broken web pages, it's been a topsy-turvy week for the regulator. On Wednesday, the U.S. Securities and Exchange Commission for the first time greenlighted several exchange-traded funds investing directly in bitcoin.But the 24 hours leading up to that approval were chaotic, to say the least.On Tuesday, however, the SEC's official account on X, formerly known as Twitter, published what the agency described as an "unauthorized" post indicating that it had approved the spot bitcoin ETFs. In reality, the regulator had not approved any such ETFs as of Tuesday and its X account had been "compromised," SEC Chair Gary Gensler said on the social-media platform. The SEC subsequently deleted the unauthorized post.The agency found "there was unauthorized access to and activity on" the its X account by "an unknown party," an SEC spokesperson said on Tuesday, adding that the "unauthorized access has been terminated" and that the SEC would work with law enforcement to in

Bitcoin traded higher Thursday after the Securities and Exchange Commission gave the green light for the first-ever spot bitcoin ETFs to trade in the U.S., as expected.The cryptocurrency was last up m