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📢 Congratulations To Crypto Community For First ETF Approval By SEC 🥳🍾

✔️The US securities regulator has approved the first US-listed exchange traded funds (ETF) to track bitcoin, in a watershed moment for the world’s largest cryptocurrency and the broader crypto industry.

🔥The announcement came at the end of a tumultuous 24 hours for the popular cryptocurrency, which saw a tweet sent from the account of the Securities and Exchange Commission (SEC) announcing the approval of the long-awaited ETFs on Tuesday, leading the price of bitcoin to spike by more than $1,000.

🎲By Wednesday however, the SEC had approved the ETFs – this time for real – adding that it remained sceptical about cryptocurrencies.

✅️What has been approved?

✨️The SEC has given the green light to 11 ETFs for bitcoin in the US, opening the door to cryptocurrencies to many new investors who don’t want to take the extra steps involved in buying actual bitcoin.

✨️An ETF is an easy way to invest in assets or a group of assets without having to directly buy the assets themselves. For example, the SPDR Gold Shares ETF allows anyone to invest in gold without having to find a place to store a bar or protect it.

✨️ETFs can also be easily traded on stock exchanges.

✨️The decision to approve the ETFs is a major win for huge fund managers like BlackRock, Fidelity Investments and Invesco who will manage the funds – and have pushed hard to get the SEC to approve them.

✨️Some products are expected to begin trading as early as Thursday, kicking off a fierce competition for market share.

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