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 ETF Looks Very Likely Given These Bureaucratic SEC Steps

We see a 98% chance of approval in the next couple of weeks and the high likelihood of a Bitcoin rally to follow.

By Junfei RenJan 3, 2024

Policy

Bitcoin Spot ETF Proposals to Be Rejected by SEC: Matrixport

"SEC Chair Gensler is not embracing crypto in the U.S., and it might even be a very long shot to expect that he would vote to approve bitcoin spot ETFs," Matrixport said

By Jamie CrawleyJan 3, 2024

Securities Exchange Commission Chair Gary Gensler has a skewed view of what constitutes an investment contract, Polymesh's Graeme Moore writes. (SEC, modified by CoinDesk)

Finance

Amid Bitcoin ETF Race, Wall Street Giants Dot Their Bureaucratic I's as Likely SEC Action Looms

BlackRock, Fidelity and Invesco want all their ducks in a row should the SEC grant approvals early in the new year.

By Danny NelsonDec 29, 2023

Gary Gensler's SEC must now decide what to do about multiple applications for BTC and ETH ETFs (Jesse Hamilton/CoinDesk)

Finance

JPMorgan CEO's Bitcoin Bashing Is a 'Do as I Say, Not as I Do' Situation

Jamie Dimon's bank agreed to play a key role with BlackRock's proposed bitcoin ETF, just weeks after he told U.S. senators: "I've always been deeply opposed to crypto, bitcoin, etc."

By Nick BakerDec 29, 2023

JPMorgan Chase CEO Jamie Dimon sees eye-to-eye with longtime Wall Street critic Sen. Elizabeth Warren on distrusting crypto. (Chip Somodevilla/Getty Images)

Markets

Crypto Had Reputational Issues This Year. 2024 Will Change That

Possible approval of bitcoin ETFs in 2024 is likely to change perceptions of digital assets following a year when the industry faced a backlash, Beth and Clay Haddock argue.

By Beth Haddock, Dec 27, 2023