By Adriano Marchese

Galaxy Digital Holdings and Invesco said they have launched a bitcoin-focused exchange-traded fund which gives investors access to the cyrptocurrency's market price.

The digital-assets and blockchain company in partnership with the ETF provider said Thursday that they have launched the Invesco Galaxy Bitcoin ETF on the Cboe BZX Exchange.

The news follows the approval by the U.S. Securities and Exchange Commission, which voted on Wednesday to allow mainstream investors to buy and sell bitcoin as easily as stocks and mutual funds.

The companies said that by purchasing bitcoin through an established financial vehicle, the more difficult operational aspects of spot bitcoin are avoided, such as custodial duties and storage wallets to keep assets secure.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

January 11, 2024 07:37 ET (12:37 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.
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