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.

Markets

Bitcoin Jumps, Then Dumps to $45K as Fake News About Spot Bitcoin Approval Liquidates $50M

The immediate price reaction showed that bitcoin's price might be capped if a real approval arrives, one analyst noted.

By Krisztian SandorJan 9, 2024

Policy

SEC Has Not Approved Bitcoin ETFs, but Its Hacked X Account Briefly Said Otherwise

The X account of the U.S. Securities and Exchange Commission, which is deciding whether to approve bitcoin ETFs, "was compromised," the regulator told CoinDesk.

By Nikhilesh De, Krisztian SandorJan 9, 2024

Markets

Bitcoin ETFs Could See Up to $100B in Inflows If SEC Approves: Standard Chartered

Analysts from Standard Chartered, Galaxy and Corestone predict that a spot bitcoin ETF could see over $1 billion in inflows over just the first quarter.

By Lyllah LedesmaJan 9, 2024

A user tracks charts on an tablet with a keyboard and larger monitor in the background.

Finance

Amid Bitcoin ETF Fee War, Grayscale Stands Its Ground With Priciest Product

Valkyrie, Invesco and Bitwise lowered their fees further just hours after all rivals finally revealed their fee plans.

By Helene BraunJan 9, 2024

Chair Gary Gensler's U.S. Securities and Exchange Commission is said to be in new talks with CEO Michael Sonnenshein's Grayscale Investments over its spot bitcoin ETF application. (Jesse Hamilton/CoinDesk)

Markets

Bitcoin ETF Fever Drives Ethereum to 32-Month Low Versus BTC

Ether has lost 43% of its value against bitcoin since Sept. 7.

By Oliver KnightJan 9, 2024

Policy

BlackRock, VanEck and Others Update Bitcoin ETF Filing Within Hours of Quick SEC Response

The filings indicate that the two entities were among the prospective issuers that the U.S. Securities and Exchange Commission (SEC) sent comments in the past 24 hours.

By Amitoj SinghJan 9, 2024