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 Shorts Lose $16M as BlackRock ETF Filing Sparks Bullish Outlook

Total crypto market capitalization rose, with dogecoin (DOGE) leading gains among major tokens.

By Shaurya MalwaJun 16, 2023

Finance

BlackRock Close to Filing for Bitcoin ETF Application: Source

BlackRock will be using Coinbase (COIN) Custody for the ETF and the crypto exchange’s spot market data for pricing, the source said.

By Ian AllisonJun 15, 2023

Finance

Metalpha Launches Grayscale-Based Digital Asset Fund

Metalpha’s Hong Kong-licensed fund will give investors exposure to Grayscale’s products, but also allow for withdrawals which is something currently missing for U.S. investors.

By Sam ReynoldsApr 12, 2023

Hong Kong (anuchit kamsongmueang/Getty Images)

Opinion

A Dozen Reasons Why the SEC Should Have Approved Grayscale's Spot Bitcoin ETF

Gary Gensler has rejected every bitcoin exchange-traded fund application in the name of consumer protection. So why doesn't he listen to what consumers have to say?

By Daniel KuhnMar 7, 2023

Grayscale's Michael Sonnenshein speaks at Invest: NYC 2019 (CoinDesk)

Policy

Judges Express Skepticism of SEC Arguments in Grayscale Bitcoin ETF Hearing

The panel of appeals court judges questioned the SEC's logic in drawing a distinction between bitcoin spot market prices and futures market prices.

By Nikhilesh DeMar 7, 2023

U.S. Court of Appeals for District of Columbia Circuit (Jesse Hamilton/CoinDesk)

Policy

Grayscale to Argue SEC’s Inconsistency as Bitcoin ETF Dispute Heads to Court

The company’s appeal of the Securities and Exchange Commission’s rejection of its bitcoin ETF will be argued in U.S. federal court next week in Washington, D.C.

By Jesse HamiltonFeb 28, 2023

Don Verrilli Jr. (Jesse Hamilton/CoinDesk)

Policy

SEC Rejects Ark 21Shares Spot Bitcoin ETF for Second Time

The U.S. markets regular has rejected a score of ETF applications for products that invest directly in bitcoin while approving a number of funds tracking the BTC futures market.

By Jamie CrawleyJan 26, 2023