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Crypto emerges from the shadows

US decision to allow spot bitcoin ETFs marks the latest win for this asset class

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Illustration: Binay Sinha

Devangshu Datta
It’s been about 15 years since Satoshi Nakamoto released the seminal paper that outlined the concept of Bitcoin, and launched a new class of financial assets, cryptocurrencies. Just by surviving through a tumultuous period, they have acquired acceptance.

The latest “win” for the asset class is the US Securities and Exchange Commission’s (SEC’s) permission to list spot bitcoin exchange-traded funds (ETFs) on US exchanges. Several such ETFs will list. This opens the door for institutional investors to put money into cryptocurrencies.

The 2008 paper introduced the concept of a currency not controlled by any entity (i.e. a central bank). Each
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper

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