welcome to asia business report. we begin in the united states where the securities and exchange commission has approved the first exchange traded funds that are directly tied to bitcoin. the long awaited decision was accompanied by a stern warning about risks associated with the asset. erin delmore has more from new york. this decision by the sec was years in the making, and now it will allow people and institutions to invest in bitcoin almost as easily as they buy stocks. the move could increase demand for bitcoin and legitimacy for the crypto currency industry, which has weathered scandal and scepticism. the sec chair did not shy away from that in a statement, saying while we approve the listing and trading of certain spot bitcoin etp