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

Everyone Wants the SEC’s Fake News to Be Real

The agency said for months it couldn’t approve bitcoin ETFs because of market manipulation. Then, in a delicious irony, it was itself manipulated, showing how even non-news can move markets.

By Benjamin SchillerJan 10, 2024

U.S. Securities and Exchange Commission Chair Gary Gensler (Jesse Hamilton/CoinDesk)

Opinion

Did the Fake Bitcoin ETF Announcement Prove an SEC Approval Is a 'Sell-the-News' Event?

The SEC's social media account was hacked to say the much-anticipated financial product was approved, perhaps answering the question of what will happen when it actually happens.

By Meltem ErdemJan 10, 2024

SEC headquarters (Nikhilesh De/CoinDesk)

Tech

Bitcoin ETF Chaos Memorialized on Blockchain, With Nod to 'Chancellor on the Brink' Reference

Jokester pays $2.97 to record the one-liner "SEC Chairman on the brink of second ETF approval" on the blockchain.

By Bradley KeounJan 10, 2024

Screen grab from Bitcoin transaction showing the line embedded using the OP_RETURN function, "SEC Chairman on the brink of second ETF approval." (Mempool.space)

Markets

BlackRock, ARK 21Shares Follow Rivals in Cutting Bitcoin ETF Fees

The SEC is expected to approve multiple ETFs at the same time, meaning the different providers will tussle for market share using fee structure as one of the main weapons.

By Jamie CrawleyJan 10, 2024

Markets

BTC Supply in Profit Nears 90% as Price Rallies on Expected Bitcoin ETF Approval

Just under half of the bitcoin supply was in profit at the start of last year.

By Sam ReynoldsJan 10, 2024

Policy

Hacker Seized SEC Phone Number to Post Fake Bitcoin ETF Approval, X Says

The revelation raises questions about the investments regulator's security protocols.

By Danny NelsonJan 10, 2024

SEC Chair Gary Gensler in Washington on Oct. 25, 2023 (Jesse Hamilton/CoinDesk)

Policy

Crypto Boosters Attack SEC for 'Manipulating' BTC Market After ETF Tweet

Lawmakers and crypto boosters are asking questions about how the SEC's X (formerly Twitter) account was compromised, leading to a bogus tweet on Tuesday.

By Danny NelsonJan 10, 2024

U.S. Senator Cynthia Lummis (R-Wyo.) is one of the lawmakers asking for more information after the SEC's X account was compromised on Tuesday. (Shutterstock/CoinDesk)

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