Bitcoin ETF

What is a bitcoin ETF? They are a relatively easy-to-purchase investment vehicle that owns bitcoin (BTC), the original cryptocurrency. Just like stocks, exchange-traded funds are listed on exchanges, can be traded throughout the day and are available for purchase through normal brokerage accounts. A bitcoin ETF was first proposed in the U.S. around 2013 by Cameron and Tyler Winklevoss, but were never approved by the U.S. Securities and Exchange Commission. Several applications for them are pending with the SEC as of January 2024, from companies including BlackRock, Grayscale, Fidelity, Galaxy/Invesco and Franklin Templeton. If approved, crypto ETFs could dramatically broaden the base of people who can invest in digital assets. There have been bitcoin futures ETFs available in the U.S. for several years, but the latest round of proposed products, technically known as spot bitcoin ETFs, are a more efficient and desirable product.

Opinion

Crypto for Advisors: Bitcoin ETF vs Direct Ownership

This article aims to provide financial advisors with a detailed comparison of these investment vehicles, addressing key aspects such as management, custody, trading, and tax implications to inform both advisors and their clients better.

By DJ Windle, Sarah MortonMay 23, 2024

Consensus Magazine

CFTC Commissioner Summer Mersinger on Overzealous Crypto Regulation and the Need for Legislative Action

The commodities regulator has been clear about the dangers of regulating a burgeoning industry through enforcement actions.

By Daniel KuhnMay 21, 2024

CFTC Commissioner Summer K. Mersinger (CoinDesk TV)

Opinion

How Bitcoin ETFs Are Changing the Risk-Reward Ratio for Institutional Investors

By approving bitcoin as an underlying product within the ETF space, the SEC has reduced risk at the base level of the asset, BitGo's Steve Scott writes. The only question is now will they invest?

By Steve ScottMay 21, 2024

Finance

Grayscale CEO Michael Sonnenshein Steps Down, to Be Replaced by TradFi Veteran

Sonnenshein's replacement will be Peter Mintzberg, currently head of strategy for asset and wealth management at Goldman Sachs.

By Jamie CrawleyMay 20, 2024

Markets

Steven Cohen's Point72 Also an Owner of Bitcoin Via Spot ETFs

Roughly 13 out of the 25 biggest U.S.-based hedge funds held the spot bitcoin ETFs at the end of March, according to data from bitcoin brokerage River.

By Helene BraunMay 17, 2024

Steven Cohen ( Jim McIsaac/Getty Images)

Finance

Morgan Stanley Latest Bank to Disclose Spot Bitcoin ETF Holdings for Clients

The Wall Street giant held roughly $270 million worth of Grayscale’s Bitcoin Trust as of the end of March, according to a filing.

By Helene BraunMay 17, 2024

News Analysis

As a Pension Embraces Bitcoin, Hope Grows for Cryptocurrency's Long-Term Prospects Even Among Conservative Pros

Wisconsin's state pension put $160 million into BlackRock and Grayscale's Bitcoin ETFs, showing even risk-averse investors are able to embrace crypto and possibly presaging a "slowly building wave of demand."

By Helene BraunMay 16, 2024