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

Grayscale's ETF Push Highlights Existential Threat to GBTC Dominance

Grayscale's competitive moat is shrinking as rival offerings attract investor money, amid speculation the SEC might be moving to approve a bitcoin ETF.

Grayscale Investments CEO Michael Sonnenshein

Markets

WisdomTree Files for a Bitcoin ETF

Others applying to offer a bitcoin ETF in the U.S. include NYDIG, Valkyrie and VanEck.

Africa, bitcoin

Markets

Grayscale Halts New Investments in GBTC

Earlier today, the investment manager’s parent company, Digital Currency Group, said it authorized the purchase of GBTC shares.

sonnenshein, grayscale

Finance

Grayscale, Firm Behind Leading Bitcoin Trust, Is Hiring ETF Specialists

Nine new job postings indicate Grayscale is considering joining the race to win the SEC’s first bitcoin ETF approval.

Grayscale Investments CEO Michael Sonnenshein

Markets

Third Bitcoin ETF Expected to Launch in Canada This Week

If approved, North America's third bitcoin ETF is planned for listing on Tuesday.

toronto stock exchange

Finance

Wealth Managers Want Clarity on Bitcoin Rules: Reuters

Leuthold Group Chief Investment Officer Jim Paulsen told Reuters he is frustrated by not being able to hold bitcoin for his clients.

miniatures and coins

Markets

State Street Would Be the Fund Administrator for VanEck’s Pending Bitcoin ETF

The global custodian would custody ETF shares and provide fund accounting if the ETF approved by the SEC.

State Street, State Street Corporation

Markets

The Node: SEC Worried About Default Bitcoin ETFs

Gary Gensler could take charge of the SEC. Will he be open to more innovation, like bitcoin exchange-traded products?

gensler

Policy

State of Crypto: How SEC Chair Gary Gensler Could Differ From Predecessor Jay Clayton

Gary Gensler will testify before the U.S. Senate Banking Committee today for a confirmation hearing on his nomination to lead the SEC.

Former CFTC Chair Gary Gensler will appear for his confirmation hearing before the Senate Banking Committee today.

Markets

CBOE Kicks Off Bitcoin ETF Clock With VanEck Filing

The SEC now has 45 days to either approve or disapprove the application, or extend the review period.

Gabor Gurbacs, director of digital-asset strategy at VanEck