News

The First Bitcoin ETFs Have Been Approved By US Regulators

The move takes cryptocurrencies a step further towards full Wall Street integration.

Published

3 years ago

January 11, 2024

the first bitcoin etfs have been approved by us regulators

Fifteen years following the mining of the genesis block, the US Securities and Exchange Commission (SEC) has granted approval for Bitcoin exchange-traded funds (ETFs). The ruling marks a significant milestone in Bitcoin’s integration into the traditional financial system it once aimed to challenge. The decision paves the way for the availability of 11 spot Bitcoin ETFs to investors, including those offered by Grayscale, Fidelity, and BlackRock, among others.

Gary Gensler, the SEC chairman, clarified the approval by stating, “While we approved the listing and trading of certain spot bitcoin ETP shares today, we did not approve or endorse Bitcoin. Investors should remain cautious about the myriad risks associated with bitcoin and products whose value is tied to crypto”.

For a decade, the SEC consistently rejected proposals for Bitcoin ETFs, which essentially function like bundles of assets, similar to mutual funds but tradable on exchanges. The commission regularly cited investment safety concerns, but now approval has been granted, new investors won’t need to set up individual wallets to trade Bitcoin, making it more accessible.

This development has generated considerable excitement among cryptocurrency enthusiasts, as ETF-issuing companies will be required to acquire corresponding amounts of Bitcoin to back their funds. Interestingly, the immediate impact on Bitcoin’s price was minimal, but in the long run, the introduction of a Bitcoin ETF is anticipated to facilitate the entry of traditional institutional investors into the cryptocurrency realm. This could include pension and insurance funds, leading to increased demand for Bitcoin.

Also Read: Non-Fungible Tokens: A Beginner’s Guide To Getting Started With NFTs

Until now, investors seeking exposure to cryptocurrency often invested in shares of crypto-centric companies such as Coinbase and MicroStrategy, the latter holding over $8 billion in Bitcoin as of January. The emergence of a Bitcoin ETF could potentially affect the valuation of these companies.

It’s important to mention that a false announcement briefly circulated on the SEC’s Twitter/X account on Tuesday, falsely claiming approval of Bitcoin ETFs, which caused some confusion.

News

Syria Just Got Its First Super App Featuring Built-In Digital Payments

Built by UAE-based Syrian founders with the Ministry of Tourism’s backing, My Syria lands as visitor numbers more than double.

Published

4 days ago

August 1, 2026

Nour Nasir

syria just got its first super app featuring built-in digital payments

For most of the past decade, paying for anything in Syria with an international card was effectively impossible. Sanctions, a collapsed banking sector, and years of isolation left the country running on cash. That is what makes the launch of My Syria — the country’s first super app — more than a routine product announcement.

Developed by 121 Living, a company founded by four UAE-based Syrian entrepreneurs — Rami Kaiem, Feras Kaiem, Waseem Qudmani, and Kinan Madi — the app launched in Damascus on July 30 under the patronage of Minister of Tourism Mazen Al-Salhani. It bundles hotels, restaurants, transport, attractions, food delivery, and other lifestyle services into a single platform, currently offering eight services with plans to expand to more than 40 verified tourism and hospitality providers across the country.

Although the app already sounds enticing, the headline feature is its built-in payments. My Syria is the first platform in Syria to support cross-border digital payments through Apple Pay, Google Pay, Visa, Mastercard, and American Express — familiar tools for international visitors, and a route into the digital economy for local businesses that have long operated outside it.

my syria super app launch event

The launch rides on a sharp rebound for the troubled country. Syria’s tourism sector recorded 3.52 million visitor arrivals in the first half of 2026, a 111 percent increase over the 1.67 million during the same period in 2025 — a mix of returning expatriates, regional visitors, and international tourists.

Also Read: This UAE Platform Wants To Replace Fashion Photo Shoots With AI

The Ministry of Tourism, which supported and supervised the app’s development, frames the launch as proof of concept for a wider strategy. “Digital transformation is one of the Ministry’s strategic priorities because it enables us to build a more competitive, connected and investment-ready tourism sector,” Al-Salhani said, inviting technology companies “globally, regionally and locally” to explore opportunities across the wider economy.

For 121 Living, this is phase one, with additional services and expanded geographic coverage planned. Whether a super app can flourish in a market still rebuilding its infrastructure is an open question, but for the first time in years, a visitor to Damascus can pay for dinner with their phone.