Tech

Charlie Taylor: SEC backing of Bitcoin ETFs is lukewarm but could benefit Ireland

The decision by the Securities and Exchange Commission to (reluctantly) green light US listings looks like a game-changer for cryptocurrencies

Cameron Winklevoss, right, and Tyler Winklevoss: the twins, who founded Gemini after filing unsuccessfully for the first Bitcoin ETF with the SEC in July 2013 Picture: Bloomberg

The US securities regulator last week gave its approval for US-listed exchange-traded funds (ETFs) to track the price of Bitcoin, in what is regarded as a watershed moment for cryptocurrencies.

The decision opens the door for a whole new class of speculators to start investing in crypto that would have previously been wary of doing so.

"It's a huge positive for the institutionalisation of Bitcoin as an asset class," Andrew Bond, managing director and senior ...