US regulators approve Bitcoin ETFs – what it means for UK crypto fans

US crypto fans can now invest in Bitcoin exchange traded funds but UK investors are likely to remain blocked

bitcoin graph
US crypto fans can now invest in Bitcoin exchange traded funds but UK investors are likely to remain blocked
(Image credit: Getty Images/Andriy Onufriyenko)

US regulators have approved the country's first investment products set up to directly track the price of Bitcoin.

The US Securities and Exchange Commission (SEC) last week approved the launch of 11 exchange traded funds (ETFs), which follow the price of Bitcoin, and are known as spot ETFs.

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Marc Shoffman is an NCTJ-qualified award-winning freelance journalist, specialising in business, property and personal finance. He has a BA in multimedia journalism from Bournemouth University and a master’s in financial journalism from City University, London. His career began at FT Business trade publication Financial Adviser, during the 2008 banking crash. In 2013, he moved to MailOnline’s personal finance section This is Money, where he covered topics ranging from mortgages and pensions to investments and even a bit of Bitcoin. Since going freelance in 2016, his work has appeared in MoneyWeek, The Times, The Mail on Sunday and on the i news site.