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 Decouples From Nasdaq Amid ETF Speculation

The 40-day correlation between the two has declined to zero.

By Omkar GodboleJan 9, 2024

Policy

SEC Hustles to Answer Latest Bitcoin ETF Filings: Source

With a Wednesday deadline looming, the regulator sent comments just hours after would-be issuers filed documents detailing their fees.

By Nikhilesh DeJan 9, 2024

SEC headquarters (Nikhilesh De/CoinDesk)

Markets

BTC Blasts Past $47K as Bitcoin ETF Excitement Gets Feverish

Bitcoin could rally 10%-15% more in case the SEC approves spot bitcoin ETFs, LMAX strategist Joel Kruger noted.

By Krisztian SandorJan 8, 2024

Opinion

Bitcoin ETFs: The Bear Case

Bitcoin exchange traded funds may not actually be approved, due to the SEC’s long-held concerns about market manipulation. And, if they are, they could change the nature of Bitcoin itself, to the detriment of Satoshi Nakamoto’s original vision, say critics.

By Daniel KuhnJan 8, 2024

Opinion

Bitcoin ETFs: The Bull Case

One train of thought says that SEC approval of spot bitcoin ETF will send the market flying. Here’s how that could play out. In a separate post, we review the bear case, where the market may not react with such optimism.

By Daniel KuhnJan 8, 2024

Finance

Bitwise Tops Bitcoin ETF Low-Fee Table, While Grayscale Bets on Size

Just one potential spot bitcoin ETF issuer has set a management fee above 1% as many of the others are asking for less than 0.5%.

By Helene BraunJan 8, 2024

Sign saying fee area ahead on a background of desert shrubland

Policy

With Bitcoin ETF Decision Looming, SEC Chair Gensler Says (Again) That Crypto Is Dangerous

While the industry eagerly awaits the U.S. regulator's decision on spot bitcoin ETFs, Gary Gensler is on X warning investors that crypto is rife with scams.

By Jesse HamiltonJan 8, 2024

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

Finance

In Bitcoin ETF Battle, Grayscale Is Bringing 'a Gun to a Knife Fight'

The Grayscale Bitcoin Trust's (GBTC) $27 billion of bitcoin and $350 million of daily volume gives Grayscale an advantage versus BlackRock and other wannabe rivals, according to Bloomberg's Eric Balchunas.

By Ian AllisonJan 8, 2024