The Fed Probably Just Got a Piece of Those Bitcoin Junk Bonds

(Bloomberg) -- While the Federal Reserve’s top brass has cast a skeptical eye on cryptocurrencies, the central bank may be a surprisingly early adopter of the first Bitcoin-linked junk bond.After the pandemic froze credit markets last year, the Fed bought bond exchange-traded funds to get things moving again. That made it the fourth-biggest owner, as of late March, of the SPDR Bloomberg Barclays High Yield Bond ETF.About 0.01% of that ETF, commonly known by its JNK ticker, is dedicated to the ju

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