CoinDesk reported:
The ultimate proof of the mainstreaming of cryptocurrency as an investable asset class is the approval of regulated products and services. The first crypto fund prospectus accepted by a North American securities regulatory authority was in 2019, when the Ontario Securities Commission approved a bitcoin ETF managed by 3iQ, a Canadian leader in cryptocurrency investment. In July of 2023, the U.S. Securities and Exchange Commission announced that it has accepted applications to create spot bitcoin exchange-traded funds from six firms, including BlackRock, Bitwise, VanEck, WisdomTree, Fidelity and Invesco. Crypto can also be purchased directly through any number of regulated trading platforms. And while inappropriate for most retail investors, crypto derivative products are available for sophisticated investors. With these significant developments there is no longer any question that advisors, in meeting their fiduciary duties, must be able to intelligently and responsibly provide advice regarding cryptocurrency investment.