The U.S. Financial Industry Regulatory Authority has approved the Bitcoin Investment Trust’s application to start official trading on the  OTC Markets Group platform. This means that traders may soon be able to officially invest into bitcoins without buying digital currency themselves.

The founder of the Bitcoin Investment Trust, Barry Silbert, posted the big announcement on his Twitter account:

“Bitcoin Investment Trust gets Finra’s OK to become first public bitcoin fund”

The message was immediately retweeted by 234 Twitter users and became the main topic of discussion on all bitcoin forums.
Michael J. Casey in The Wall Street Journal gave a more detailed account of the event. The journalist mentioned a “bitcoin race” between  the Winklevoss twins and Barry Silbert.

Bitcoin entrepreneurs competed for a long time to create the first public and regulated fund on the American market.

The Winklevoss brothers decided to register their fund as a formal exchange-traded entity, which needs the approval of the Securities and Exchange Comission. This procedure is lengthy: in November 2014, the brothers announced that their fund “is in the process of regulation”.

The Bitcoin Investment Trust used another procedure that allows a public fund to receive the more difficult Financial Industry Regulatory Authority approval after 12 months of lockup. This allowed Barry Silbert’s fund to gain this approval today and become a leader in the race.

The Winklevoss brothers have not commented on this news. Barry Silbert receives congratulations from Twitter users.

“When is the launch?” asks Ned Nederlander. Silbert has kept silent, however, and the Bitcoin Investment Trust has not provided any additional information either