Bitcoin has been rallying for months ahead of the expected launch of the first US exchange-traded funds holding the cryptocurrency. Skeptics say there is almost no room to function.
The Securities and Exchange Commission could approve the funds, known as bitcoin spot ETFs, as early as next week. Approval would mark a watershed moment for the industry, allowing investors to buy bitcoin in their brokerage accounts as easily as stocks. (Funds that track bitcoin futures are already in the market.)
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