According to reports, the New York Stock Exchange, Nasdaq and Cboe Global Markets have all received permission to list the ETFs, with trading expected to begin as soon as this Thursday (US time).

Reports indicate 11 funds have been given permission to launch Bitcoin ETFs including Grayscale, VanEck and Fidelity.

The move has been long touted and will make it easier for retail investors to access cryptocurrency through traditional stock markets.

Bitcoin ETFs will enables retail investors to hold bitcoin exposure without needing cryptographic keys, bitcoin wallets or to interact with unregulated crypto exchanges.

According to The Australian Financial Review, Australia will also soon get its first Bitcoin ETF, with the Australian Securities Exchange (ASX) approving a timeline for the first local ETF to be launched by Brisbane-based Monochrome Asset Management in the first half of 2024.

Local fund manager Betashares is also expected to expedite plans to launch an ETF on the ASX, following the US approval.

A Betashares ETF, which invests in companies that provide services to the cryptocurrency market, rather than the Bitcoin price itself, is already traded on the ASX.

More to come …