As the price of Bitcoin soared since first being introduced, investors have sought ways to get a piece of the cryptocurrency action.
The new Bitcoin-linked fund, ProShares Bitcoin Strategy ETF , gives traders a way to speculate on Bitcoin without having to buy cryptocurrency directly or set up an account with a crypto exchange.
Many people have been drawn to Bitcoin by its rapid rise in price since first being introduced in 2009.
Investing in a Bitcoin ETF could be a good option for people who are looking for a more traditional way of investing in the digital currency.
Bitcoin ETFs are going to be available through most online brokers who offer traditional securities like stocks and bonds.
ETFs trade on traditional exchanges such as the New York Stock Exchange or the Nasdaq.
Last fall’s launch of the ProShares Bitcoin Strategy ETF marked the first ETF tied to Bitcoin, but the fund itself uses futures contracts instead of investing in Bitcoin directly.
“digital dollar.” It is likely the order will lead to new laws and regulations that have largely been nonexistent for the crypto industry thus far.
If you’re looking for a broad offering, you’ll need to go through a crypto exchange, but be careful to watch out for costly fees associated with buying and selling.
Another way to make crypto-adjacent investments is to invest in ETFs focused on blockchain, which is the technology behind cryptocurrencies like Bitcoin and Ethereum.
Coinbase, a large crypto exchange, went public in 2021 and other companies such as PayPal and Robinhood have also made a push into cryptocurrencies.
The Grayscale Bitcoin Trust started in 2013 as a private investment with a six-month lockup that prevented investors from reselling it into the public market for that period.
But crypto enthusiasts will likely have to wait a bit longer for there to be a flood of these ETFs on the market due to regulatory concerns from the SEC.
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