The prospect that US residents may soon be able to invest in bitcoin through their brokerage, as if it were a regular stock, has prompted a fresh round of hype in crypto circles—and a surge in crypto prices.
Several investment firms, including heavy-hitters like BlackRock and Fidelity, are queuing up to launch a spot bitcoin exchange-traded fund (ETF) in the US. These funds would track the price of bitcoin, making them the closest thing to investing in the crypto token directly without dealing with a crypto exchange or storing crypto manually, a process fraught with risk.
After a bruising 18 months in which crypto prices buckled, high-profile businesses collapsed, and two
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