Physical/Spot-Crypto ETFs

[Admin/YBB]

The SEC has approved the following physical/spot-Bitcoin ETFs on 1/10/24 for trading on 1/11/24:

NEW

ARKB - ARK-21Shares
BITB - Bitwise
BRRR - ValkyRie
BTCO - Invesco Galaxy
BTCW - WisdomTree
EZBC - Franklin
FBTC - Fidelity Wise
HODL - VanEck
IBIT - IShare/BlackRock

EXISTING IN SOME FORM - CONVERSION

DEFI - Hashdex (a futures-based ETF exists & proposal was to convert to spot-Bitcoin ETF)
GBTC - Grayscale (an illiquid trust exists & proposal was to convert to spot-Bitcoin ETF)

Gensler's Statement  www.sec.gov/news/statement/gensler-statement-spot-bitcoin-011023
News  www.bnnbloomberg.ca/sec-approves-bitcoin-spot-etfs-in-milestone-for-digital-assets-1.2020423 
Full SEC Document (22 pages)  www.sec.gov/files/rules/sro/nysearca/2024/34-99306.pdf

Edit/Add, 1/12/24. For a discussion of 1933-Act ETPs vs 1940-Act ETFs, see the link below. The above were approved as 1933-Act ETPs even though the term "ETF" is used loosely in some names and descriptions.
ybbpersonalfinance.proboards.com/post/1313/thread

Edit/Add. Fees (waivers/after-waivers), exchanges, custodians are in this TwitterLINK.
pbs.twimg.com/media/GDe5FQ2WUAALIiH?format=png&name=900x900

[Admin/YBB]

An interesting thread at MFO on Bitcoin/cryptos. Some skeptics/doubters really don't know the facts about Bitcoin or cryptos.
www.mutualfundobserver.com/discuss/discussion/62078/investors-pile-into-bitcoin-funds#latest

Here are the YBB posts on that thread.

yogibearbull
March 6 edited March 6 Flag
Just look at yesterday - all-time high for Bitcoin & then nearly crashed.
New physical/spot Bitcoin ETFs have attracted billions. Major iShare IBIT, Fido FBTC. Lot of money just shifting from Grayscale GBTC.

Riding this craziness with some Coinbase/COIN.


yogibearbull
March 6 edited March 6 Flag
I have core & explore.
Core is very boring stuff.
Explore is wilder stuff - stocks, options, futures-based ETFs (but no futures directly), and more recently COIN. Be aware that COIN has businesses of exchange, broker-dealer, custody, all related to cryptos, and more uniquely, it's US-based.
Anyway, for explore, if it trades, I may look at it - it could be rotten fish smell in a bottle, I don't care. Can't a guy at 75+ have some fun? (-


yogibearbull
7:36AM edited 8:48AM Flag (3/7/24)
In my previous post, when I excluded futures from my list, I was thinking of @rforno !

The observation that Coinbase/COIN is an indirect play on crypto "business" is right on. Owning COIN is like owning a casino, owning crypto is like being a gambler in the casino.

Anyway, posters should look at new things in rational ways, not emotional ways. Crypto train has arrived, especially with these new spot-Bitcoin ETFs from major firms, and people can board or watch and wait for the next train.


yogibearbull
10:20AM Flag (3/7/24)
@mark, Bitcoin is a crypto with limited supply of 21 million. Other cryptos don't have supply limits & can be issued at will.

So, the recent new ETFs buying & holding Bitcoin will reduce Bitcoin circulation.

Bitcoin-halving is coming up in April. That reduces mining incentive fees & makes discovering & validating new Bitcoin transactions more difficult. That is ANOTHER feature that Ethereum, etc don't have.

[Admin/YBB]

In 2 months, the AUM for the new spot-Bitcoin ETFs has reached $55 billion. Twitter LINK

Image  pbs.twimg.com/media/GIYzEIoXgAAT3rz?format=png&name=large