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

VanEck Tries Again for Bitcoin Strategy ETF With SEC

VanEck unsuccessfully tried to list a similar fund in 2017.

(VanEck)

Policy

Gensler’s Preference for Bitcoin Futures Products Is Likely Bad News for a Spot BTC ETF

The SEC chairman's comments this week are causing issuers to readjust their expectations for the approval of a spot bitcoin ETF.

SEC Chairman Gary Gensler

Videos

Valkyrie Exec: SEC Chair Gensler Signals ‘Positive’ Pathway for a Bitcoin ETF

Sean Rooney, Head of Research at asset management firm Valkyrie, discusses his reading of Gensler’s remarks at the Aspen Security Forum as “positive for the possibility of a Bitcoin ETF.”

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Markets

Goldman Sachs Applies for DeFi ETF

The filing joins more than a dozen crypto ETF applications sitting before the SEC.

Goldman Sachs

Videos

Did a Short Squeeze Drive BTC Prices Higher?

Bitcoin broke back above $39K Sunday in the largest single daily gain in six weeks. BNY Mellon's Ben Slavin shares his analysis on the potential factors driving the BTC spike. Plus, insights into rising institutional demand for crypto services as BNY Mellon begins to custody crypto and outlook for bitcoin ETFs in the U.S.

Recent Videos

Policy

Global X Joins Firms Filing Bitcoin ETF Application With SEC

The fund manager filed a proposal with the SEC to list the Global X Bitcoin Trust on the Cboe BZX Exchange.

SEC, Securities and Exchange Commission

Videos

Timothy Massad: Bitcoin ETFs Could Lead to Greater Regulation

Responding to Sen. Elizabeth Warren’s call for SEC to clarify its role on crypto regulations, former CFTC Chairman Timothy Massad suggests that the SEC, despite not having direct authority to regulate crypto exchanges, could approve bitcoin ETFs as a way to “bring some regulatory standards.”

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Markets

SEC Further Delays WisdomTree Bitcoin ETF Decision

The SEC instituted proceedings on whether to approve the WisdomTree bitcoin ETF application, effectively delaying any firm decision by a few months.

SEC Chairman Gary Gensler

Finance

BNY Mellon to Provide Grayscale With ETF Services After 'Anticipated' GBTC Conversion

The world’s largest custodian bank will begin handling accounting and administration services for the Grayscale Bitcoin Trust in October.

Bank of New York Mellon

Markets

SEC Delays Decision on SkyBridge Capital's Proposed Bitcoin ETF to August

The agency has extended its initial 45-day review period.

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