Bitcoin-based fund's expected launch will make it easier for investors to buy a stake in crypto

Bitcoin, the cryptocurrency that has more than doubled in price this year while operating largely on the fringes of financial markets, is expected to take a big step toward joining the investing establishment.

SEC Chair Gary Gensler has issued some strong critiques of the crypto industry since taking the reins at the markets regulator six months ago, calling the sector a haven for scammers while offering limited value for consumers. Foto: Evelyn Hockstein/Reuters/Ritzau Scanpix

Starting Tuesday, everyday investors with brokerage accounts will be able to buy a stake in the world's largest cryptocurrency through a new fund that tracks its future price.

The exchange-traded fund, the Bitcoin Strategy ETF, will be the first of its kind to trade on a U.S. stock exchange, after winning the tacit approval of the Securities and Exchange Commission. Bitcoin investors and other crypto-industry advocates are calling the development a watershed, heralding what they hope will be wider acceptance of digital assets by regulators. Since news broke late last week of the ETF's likely listing, the price of bitcoin has surged more than 5 percent, now hovering at all-time highs, above $61,000...

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