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

Bitcoin ETFs Bleed $287M, Largest Daily Outflow in Four Months

BTC traded lower as weak U.S. manufacturing data revived growth concerns.

Photo taken in Thai Mueang, Thailand

Finance

The Crypto Bull Market Has Created 88K New Millionaires in 2024: Henley Global

Five of the six new billionaires became so through bitcoin investments.

Woman with falling dollars.  (BuenaVistaImages/Gettyimages)

Markets

Crypto Market Has Struggled Since Spot Ether ETFs Started Trading: Citi

Demand for digital assets has dried up in recent weeks and both bitcoin and ether ETFs have seen net outflows in the last month, the report said.

Ether spot ETFs to see same sources of demand as bitcoin versions but on lower scale: Bernstein. (Rob Mitchell/CoinDesk)

Markets

First Mover Americas: Bitcoin Consolidates at $64K Before Next Push Higher

The latest price moves in crypto markets in context for Aug. 26, 2024.

Bitcoin price on Aug. 26 (CoinDesk)

Policy

NYSE Scrubs Plan to List Bitcoin ETF Options

Other exchanges have also withdrawn their applications, but some have re-filed.

Predecessors of today's traders at the NYSE floor in 1963 (Library of Congress)

Markets

Bitcoin Crosses $61K as Traders Remain Cautious Ahead of U.S. CPI, Further Unwinding of Yen Carry Trade

BTC beat the CoinDesk 20 during the Asia trading hours, while traders remain bullish on TON because of its GameFi integration.

Bitcoin price chart. (CoinDesk Indices)

Markets

Goldman Sachs Holds Over $400M in Bitcoin ETFs

The investment bank says it owns over $400 million in bitcoin ETFs, according to a recently filed 13F.

Goldman Sachs logo (CoinDesk archives)

Finance

Asset Manager Grayscale Introduces Crypto Fund for MakerDAO's MKR

The company unveiled similar single-asset trusts for TAO and SUI and a fund that invests in a basket of decentralized artificial intelligence-focused tokens over the past month.

Grayscale ad in NYC (Nikhilesh De/CoinDesk)

Markets

Bitcoin's Prospects Strengthen as Key Stablecoin Metric Slides to Lowest Level in 18 Months

The dwindling metric points to declining selling pressure in the bitcoin market.

A person looking at multiple trading screens. (sergeitokmakov/Pixabay)

Markets

Bitcoin Nears $58K as Market Slides Ahead of Busy Data Week

Crypto markets lack a clear anchor and are susceptible to continued position adjustments based on traditional finance markets, one analyst said.

Quick slide in crypto prices on Friday (Karsten Winegeart/Unsplash)