SEC’s bitcoin decision could change markets for years to come

This week will go down as one of the most dramatic in the recent history of financial markets regulation. Now it’s a case of buyer beware.

James EyersSenior Reporter

Jan 12, 2024 – 11.27am

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Most years, the second week of January is a quiet one for global markets. This year, it was anything but. Indeed, it has been one of the most dramatic in the recent history of financial regulation.

Before the local bourse opened on Thursday, the US Securities and Exchange Commission made a watershed ruling, one that will reverberate through investment markets for years to come. It approved 11 bitcoin exchange-traded funds, which have now listed on major US markets.

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James EyersSenior ReporterJames Eyers writes on banking, finance, payments, regulation and emerging technologies. Based in Sydney, he is a former legal and investment banking editor at the AFR and has been a business journalist for more than 20 years.