Account Info
Log Out
English
Back
Log in to access Online Inquiry
Back to the Top
Big day for bitcoin ETFs: Game changer or not?
Bitcoin is off to a banging start in 2024, the SEC approved the trading of Bitcoin ETFs, similar to stocks and mutual funds, facilitating ea Show More
Bitcoin is off to a banging start in 2024, the SEC approved the trading of Bitcoin ETFs, similar to stocks and mutual funds, facilitating easier access for investors. But Bitcoin ETFs are, in fact, not new. Crypto ETFs on Brazil's B3 exchange have seen a mixed bag of returns over the past year. The top performers were funds tracking heavyweight cryptocurrencies like Bitcoin and Ethereum. The QBTC11 ETF, tied to the Bitcoin price through the CME CF Bitcoin Reference Rate index, skyrocketed with gains of 145% in 2023.

In the US, all 11 spot Bitcoin ETF applications from firms like BlackRock, Fidelity Investments, ARK Investment Management, Invesco, WisdomTree, Bitwise Asset Management, Valkyrie, and Grayscale Investments have been approved and will start trading on January 11th. These "spot Bitcoin ETFs" allow for direct Bitcoin trading. Critics argue that these approvals may set a concerning precedent for other crypto ETFs and complicate investor protection efforts by the SEC. Nonetheless, the approvals could make it easier for financial advisors to recommend Bitcoin to clients by bypassing some regulatory challenges.

Nonetheless, Bitcoin is poised for a promising kickoff in 2024, with investors eagerly anticipating the debut performance of Bitcoin ETFs on the US market.

🎙️Discussion:
1. Do you know what a Bitcoin ETF is and what its advantages are?
2. How do you expect the future of crypto?

View disclosures here.
Views
551K
Posts
165
Join topic
Latest
Hot
Related Stocks
  • ARKB
    ARK 21Shares Bitcoin ETF
    98.110
    +4.04%
  • BITB
    Bitwise Bitcoin ETF
    53.510
    +4.04%
  • BRRR
    Valkyrie Bitcoin Fund
    27.800
    +4.08%
  • BTCO
    Invesco Galaxy Bitcoin ETF
    98.130
    +3.95%
  • BTCW
    WisdomTree Bitcoin Fund
    104.290
    +4.10%