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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.
SEC Chair Gensler Reiterates Support for Futures-Based Bitcoin ETFs
U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler reiterated his support Wednesday for a narrow class of bitcoin exchange-traded funds (ETFs) that would invest in futures contracts instead of the crypto itself. CoinDesk's Galen Moore discusses the outlook for the U.S. ETF landscape, suggesting the likelihood of a spot ETF getting approved compared to a bitcoin futures ETF. Plus, his views on El Salvador using volcanic energy for bitcoin mining.
Crypto Companies Continue ETF Proposal Spree With Bitcoin, DeFi Filings
Tuesday regulatory filings show Amplify, Invesco and Galaxy Digital submitting a pair of crypto ETF bids to the SEC.
Grayscale’s Vision for Bitcoin ETF at Odds With Those of SEC Chair Gensler
Analysts say the so-called GBTC discount could widen if Grayscale’s plan for a spot bitcoin-based ETF fails to win SEC approval.
Bitwise Joins Hunt for Bitcoin ETF Approval With Futures Product Filing
The asset manager is teaming up with ETF Series Solutions in its bid to get a U.S. bitcoin ETF over the finish line.
Why is Bitcoin Pulling Back?
Osprey Funds founder and CEO Greg King analyzes the crypto markets and his outlook as bitcoin continues to fade after last week’s sell-off from the $52,000 resistance level, and the upside appears to be limited given signs of slowing momentum.
SEC Sets November Deadline for Final Decision on VanEck Bitcoin ETF
Regulators are again postponing a decision on what would be the first U.S. bitcoin ETF.
Withdrawal of Ether Futures ETF Proposals Good Sign for Bitcoin Futures ETF: Analyst
Bloomberg Intelligence’s James Seyffart thinks a bitcoin futures ETF could get approved as soon as October.
VanEck Adds to ETF Applications With Ether Futures Filing
Fund manager VanEck filed for its fourth crypto exchange-traded fund (ETF) application on Wednesday. This time, it’s for an ethereum-based ETF that would seek to sidestep U.S. regulators’ crypto ETF blockade by trading ether indirectly. “We’ve seen over a dozen bitcoin-related ETF applications but not as many ether-related ETF applications,” CoinDesk’s Nikhilesh De said.
Galaxy Digital Files for US Bitcoin Futures ETF
Just months after filing for a bitcoin exchange-traded fund (ETF), Michael Novogratz's cryptocurrency-focused financial services firm Galaxy Digital has filed with U.S. regulators for a bitcoin futures ETF. This comes as SEC Chairman Gary Gensler signaled he preferred ETFs based on bitcoin futures earlier this month at the Aspen Security Forum. CoinDesk's Nikhilesh De discusses the state of bitcoin ETFs in the U.S. as the SEC has yet to approve any of the dozens of applications for crypto ETFs in recent years.