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.

Tech

BlackRock Bitcoin ETF Application Refiled, Naming Coinbase as ‘Surveillance-Sharing’ Partner

Refiled application by Nasdaq to list a BlackRock bitcoin ETF follows a report last week that the SEC deemed earlier proposals "inadequate" since they didn't specify the name of the underlying market in so-called surveillance-sharing agreements.

By Elizabeth NapolitanoJul 3, 2023

BlackRock's corporate office in New York, New York. (Jim.henderson/Wikimedia Commons)

Markets

Coinbase, Microstrategy Shares Rally After Cboe Refiles Bitcoin ETF Applications

Shares in Coinbase, chosen as the market for the surveillance-sharing agreements in ETF applications, rose above $80 at around 11:30 ET on Monday.

By Jamie CrawleyJul 3, 2023

A finger draws an upward trending line on a chart (Unsplash)

Policy

Probability for U.S. Approval of a Spot Bitcoin ETF Is Fairly High: Bernstein

The lack of a spot ETF leads to the growth of over-the-counter products like the Grayscale Bitcoin Trust, which are more expensive, illiquid and inefficient, the report said.

By Will CannyJul 3, 2023

U.S. Securities and Exchange building (Shutterstock)

Policy

Coinbase Will Be Surveillance Partner for Fidelity, Other Bitcoin ETFs, Refiled Applications Say

The SEC told Cboe it needed to name its partner earlier Friday.

By Nikhilesh DeJun 30, 2023

Markets

Bitcoin Tumbles on Report of SEC Saying Spot BTC ETF Filings Inadequate

Spot bitcoin ETF applications from BlackRock and Fidelity, among others, had helped drive bitcoin higher over the past two weeks.

By Stephen AlpherJun 30, 2023

Bitcoin daily price chart. (CoinDesk Indices)

Markets

GBTC Volume Increases 79% in June Amid TradFi ETF Applications

The trust’s trading volume increased to $45 million in June.

By Lyllah LedesmaJun 28, 2023

Grayscale CEO Michael Sonnenshein (CoinDesk)

Finance

Cathie Wood's ARK Amends Spot Bitcoin ETF Filing to Include Surveillance Sharing, Similar to BlackRock

ARK's application may now be in pole position to be approved first as as it was filed earlier than BlackRock's.

By Jamie CrawleyJun 28, 2023

ARK Invest CEO and CIO Cathie Wood (Marco Bello/Getty Images)

Videos

Bitcoin Briefly Tops $31K After Fidelity Spot ETF Report

Bitcoin (BTC) saw a mid-morning price surge after The Block reported asset management giant Fidelity was preparing to file for a spot bitcoin ETF. A Fidelity Investments spokesperson told CoinDesk “we are not able to confirm or share an update.” "The Hash" panel weighs in on the recent flurry of spot bitcoin ETF filings from traditional finance giants in the U.S.

Jun 27, 2023