The Securities and Exchange Commission reluctantly approved trading of the first bitcoin exchange-traded funds Wednesday, saying it is still deeply skeptical about cryptocurrencies and that the agency "did not approve or endorse bitcoin" in its decision. An exchange traded fund, or ETF, is an easy way to invest in something or a group of things, like gold, junk bonds or bitcoins, without having to buy the things themselves. Cryptocurrency advocates hope the development thrusts the once niche and nerdy corner of the internet even further into the financial mainstream.
