In the coming days, the US Securities and Exchange Commission may finally greenlight ETFs that hold bitcoin directly.

This potential approval would represent a significant step toward legitimizing the blockchain asset class, following a decade-long effort by fund issuers.

Read more: Industry watchers pin down possible bitcoin ETF approval dates

As optimism around such a possibility has grown in recent months, let’s take a look at how we got to this stage. 

The attempts begin 

Cameron and Tyler Winklevoss filed on July 1, 2013 to launch the Winklevoss Bitcoin Trust. The price of bitcoin was roughly $100 at that time. 

To be offered by the brothers’ company, Math-Based Asset…

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