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.

Policy

Gary Gensler's Begrudging Bitcoin ETF Concession: 'We Did Not Approve or Endorse Bitcoin'

The SEC chair said a court forced his hand and that the agency's decision to greenlight a spot bitcoin ETF doesn't signal support of that or any other digital asset.

By Jesse HamiltonJan 10, 2024

U.S. Securities and Exchange Commission Chair Gary Gensler says the agency's court loss led to bitcoin ETF approvals. (Jesse Hamilton/CoinDesk)

Podcasts

What Will Be the Impact of a Bitcoin ETF Approval?

By Michael J. CaseyJan 10, 2024

‘Tokenization Is the Future of Real Assets.’

Opinion

Bitcoin ETFs Approved: The Industry Reacts

In a milestone for crypto adoption, the SEC today gave the green light to the trading of Bitcoin exchange-traded funds (ETFs). CoinDesk rounded up reaction from across the crypto industry to the news.

By Daniel Kuhn, Benjamin Schiller, Elizabeth NapolitanoJan 10, 2024