The US regulator has approved exchange-traded funds (ETFs) that invest directly in Bitcoin, a landmark movement in the US financial market. Securities and Exchange Commission (SEC), took a U-turn from its decade-long position that Bitcoin ETFs could be easily manipulated. However, two SEC commissioners expressed dissent on the decision saying these products will flood the markets and may drain the retirement savings of several US households. In anticipation of the move, the Bitcoin had soared more than 70 per cent in recent months and since the announcement rose 4 per cent at USD 47,310.