Spot ETFs offer an easier and cheaper way to invest in bitcoin
Publishing timestamp: 2024-01-10 21:49:05
Summary
The U.S. Securities and Exchange Commission (SEC) has approved the creation of bitcoin exchange-traded funds (ETFs), allowing big asset managers like BlackRock and Fidelity to enter the market. Investors will be able to acquire holdings in bitcoin ETFs at lower fees compared to buying bitcoin directly through traditional crypto platforms. This approval opens up the crypto asset class to the wealth management industry and is expected to attract new retail and institutional investors. Various companies are offering fee-free trading or discounted fees for their spot bitcoin ETFs. However, there are concerns about the appetite for these ETFs and whether they will meet expectations.
Sentiment: POSITIVE
Tickers: BTC.CB=, BLK, GBTC, COIN,
Keywords: cryptocurrency, grayscale bitcoin trust (btc), bitcoin, technology, business news, blackrock inc, fintech, bitcoin/usd coinbase, coinbase global inc, sec, exchange-traded funds,
Source: https://www.cnbc.com/2024/01/10/spot-etfs-offer-an-easier-and-cheaper-way-to-invest-in-bitcoin.html