A small ESG-focused crypto asset manager, 7RCC, is the latest applicant to join the race for a spot-bitcoin exchange traded fund (ETF), a filing with the Securities and Exchange Commission (SEC) shows.
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A bitcoin exchange-traded fund (ETF) is a financial product that allows investors to gain exposure to the price movements of bitcoin without actually holding the asset itself. Shares of a bitcoin ETF are traded on traditional stock exchanges, making it easier for investors to participate in the cryptocurrency market.
The Securities and Exchange Commission (SEC) rejected spot bitcoin ETFs for more than a decade, hoping to protect investors from market manipulation. But the SEC was forced to approve them last month after Grayscale Investments won a court challenge.
If long-term price performance is your only investment goal, then the new Bitcoin ETFs make a lot of sense. However, you could prefer direct-asset ownership of Bitcoin if you are concerned about the regulatory or legal aspects of crypto.
However, investing in crypto ETFs is not without risk. The market is volatile, with prices fluctuating significantly in short periods. In addition, the regulatory landscape for crypto is evolving, and changes in regulations will undoubtedly impact the performance and availability of these ETFs.
But for many investors, holding Bitcoin directly can be complex. That's why we launched IBIT, the iShares Bitcoin Trust, an ETF that provides investors convenient exposure to Bitcoin.
However, Vanguard does not have plans to create a Vanguard bitcoin ETF or other crypto-related products. Additionally, such products from other issuers will not be offered on our brokerage platform.
WASHINGTON/NEW YORK, Jan 10 (Reuters) - The U.S. securities regulator on Wednesday approved the first U.S.-listed exchange traded funds (ETFs) to track bitcoin, in a watershed for the world's largest cryptocurrency and the broader crypto industry.
The SEC has previously rejected all spot bitcoin ETF proposals over fears of market manipulation. Accounts on X, like accounts on other social media platforms, are sometimes hijacked by stealing passwords or tricking targets into giving up their login credentials.
Cathie Wood Sees Bitcoin Price Reaching $1.5M by 2030 After ETF Approval. ARK Invest's CEO previously predicted the price would reach $1 million by 2030.
The new ETFs may be cheaper than previous fund options, such as the ProShares Bitcoin Strategy ETF (BITO) — the first bitcoin futures ETF, with an expense ratio of 0.95%. The Grayscale Bitcoin Trust (GBTC) charged 2.0% before converting to a spot bitcoin ETF, and now has fees of 1.5%.
Blockchain technology is neither banned nor under heightened scrutiny by most regulatory agencies. Blockchain ETFs primarily track the stock market prices of companies invested in blockchain technology. The first Bitcoin futures ETFs began trading in 2021, and Bitcoin spot ETFs began trading in January 2024.
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