ETF STRATEGIES

Spot bitcoin ETF approval may be coming in January, experts say. Here's what it means for investors

KEY POINTS

Investors await approval for the first U.S. spot bitcoin exchange-traded fund, which would be a milestone for cryptocurrency investors.

Discussions between the Securities and Exchange Commission and asset managers with pending spot bitcoin ETF applications have advanced.

Still, bitcoin "remains an extremely volatile and speculative asset,” said Bryan Armour, director of passive strategies research for North America at Morningstar.

The price of bitcoin has surged in 2023 as investors await approval for the first U.S. spot bitcoin exchange-traded fund, which would be a milestone for cryptocurrency investors, experts say.

In early December, the digital currency topped $44,000 for the first time since April 2022, and year-to-date gains were above 160%, as of Dec. 21, mostly fueled by optimism for a spot bitcoin ETF.

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