Many cryptocurrencies like Dogecoin or Solana, known as altcoins, are waiting for approval by the SEC to be traded as exchange-traded funds. But with the government shutdown, that wait could be a lot longer.
The company is the first of its kind to join the landmark index. Cryptocurrency skeptics and fans alike say that gives the virtual tender a stamp of legitimacy, but can’t agree if it’s warranted.
Bitcoin backers argue that the cryptocurrency should be immune from the inflationary impacts of tariffs or eroding faith in the U.S. dollar. Others are skeptical.