you are citing the performance over the last month??? This has to be a joke
11 Bitcoin ETFs to trade from today
- Thread starter Pekelo
- Start date
you are citing the performance over the last month??? This has to be a joke
Thats for a whole year....to date.
New Bitcoin leveraged ETFS were launched yesterday. Anyone know when options will begin trading?
- ProShares UltraBitcoin ETF (NYSE Arca: BITU) looks to provide 2x the daily price performance of bitcoin
- ProShares UltraShort Bitcoin ETF (NYSE Arca: SBIT) aims to deliver investors 2x the inverse of the daily performance
So lets say an ETF just hold Bitcoin directly, then apart from Bitcoin's own fluctuation ( market risk) Is there not another risk, the exchange where the ETF buys and sells the underlying Bitcoin that holds the Bitcoins could go burst !https://www.investopedia.com/spot-b...ing-today-heres-what-you-need-to-know-8425024
The SEC has approved eleven new ETFs that will be listed on the NYSE Arca, Cboe BZX, and Nasdaq exchanges. The following is a list of the ETFs trading on each exchange and their tickers:1
NYSE Arca will list and trade shares of the Grayscale Bitcoin Trust (GBTC), the Bitwise Bitcoin ETF (BITB), and the Hashdex Bitcoin ETF (DEFI).
Cboe BZX will list and trade shares of the ARK 21Shares Bitcoin ETF (ARKB), the Invesco Galaxy Bitcoin ETF (BTCO), the VanEck Bitcoin Trust (HODL), the WisdomTree Bitcoin Fund (BTCW), the Fidelity Wise Origin Bitcoin Fund (FBTC), and the Franklin Bitcoin ETF (EZBC).
Nasdaq will list and trade shares of the iShares Bitcoin Trust (IBIT) and the Valkyrie Bitcoin Fund (BRRR).
----------------------------
My personal favorite is EZBC, because it is easy to remember.
The ETF trades on a regulated exchange but the asset it holds does not ! Am I correct
The custodian of the bitcoins (not necessarily the broker(s) the ETFs use) could have issues such as losing the bitcoins.
https://www.investors.com/news/bitc...andful,Fidelity, Anchorage Digital and Gemini.
Ok got it so people can be Fxxxed without being Fxxxed! LOL
that is not the legal set up though. The bitcoin these spot ETFs hold is through a qualified custodian. This is a different company (legally) from the exchange, and has greatly enhanced protections and standards. For example, and I am not a lawyer, in the event of a bankruptcy you would be a secured creditor and be in the front of the line as opposed to if the exchange just went bust, you would be an unsecured creditor and will be further down the line amongst other legal protections and I understand it.
Coinbase custodies most of the bitcoin in these ETFs, but it’s not the same Coinbase (and from a legal perspective) as the Coinbase exchange. If you had coins on the Coinbase exchange and it goes bankrupt, you are a creditor of Coinbase inc. if somehow the coins in the etf disappear (which seems extremely improbable given all the standard for custodians) you are a creditor of Coinbase custody inc. different company.
To be clear, I am not saying there is no risk. I am just saying the risk is way lower than just having your coins on an exchange.
if somehow the coins in the etf disappear (which seems extremely improbable) Why ? many people have lost crypto due to such fraud ! The ETF has to first convert real money in to Crypto via some exchange would they not? and what if after doing that the exchanges goes belly up? so the ETF may not have bad intentions but the unregulated exchanges of this funny money might!