Bitcoin

Spot

BlackRock

<p>Even toay, Bitcoin remains the most popular and most valued cryptocurrency in the world. Unfortunately, this digital asset is not accessible to everyone. This is what makes Bitcoin ETFs unique. These index funds replicate the BTC price without the technical constraints. They are currently experiencing historic success on Wall Street, the world’s largest financial market.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <div class="entry-content-asset">
   <div class="social-embed-container">
    <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
     <p lang="en" dir="ltr">₿𝗥𝗘𝗔𝗞𝗜𝗡𝗚: <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> ETFs officially the most popular ETFs in Wall Street history! <a href="https://t.co/YvKm3yOtO3" rel="noopener noreferrer nofollow">pic.twitter.com/YvKm3yOtO3</a></p>— Documenting ₿itcoin <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4c4.png" alt="📄" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@DocumentingBTC) <a href="https://twitter.com/DocumentingBTC/status/1755944355234214053?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 9, 2024</a>
    </blockquote>
    <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
   </div>
  </div>
 </div>
 <figcaption class="wp-element-caption">
  Wall Street is snatching up Bitcoin ETFs
 </figcaption>
</figure>
<h2 id="h-spot-bitcoin-etfs-a-revolution-for-investors">Spot Bitcoin ETFs, a revolution for investors</h2>
<p>Bitcoin ETFs have <strong>been around since 2021</strong>. However, they were based on <a href="https://www.cointribune.com/quest-ce-que-les-futures/" target="_blank" rel="noopener noreferrer nofollow">futures contracts</a> and had several disadvantages:</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<ul>
 <li>high fees,</li>
 <li>a risk of liquidation,</li>
 <li>a discrepancy between the contract price and the actual BTC price.</li>
</ul>
<p>In January 2024, <a href="https://www.cointribune.com/en/bitcoin-etf-approval-crypto-market-in-turmoil/" target="_blank" rel="noopener noreferrer nofollow">the SEC</a> authorized the launch of <strong>Spot Bitcoin ETFs</strong>. These are funds that invest directly in bitcoin. They offer investors exposure to bitcoin without having to open an account on a crypto exchange or hold a digital wallet.</p>
<p>Spot Bitcoin ETFs were launched by ten management companies, including the giants <a href="https://www.cointribune.com/en/etf-bitcoin-full-success-for-blackrock-billions-of-dollars-in-just-a-few-days/" target="_blank" rel="noopener noreferrer nofollow">BlackRock</a> and Fidelity. They go by names such as <strong>BITO, IBIT, or FBTC</strong>. They are listed on the NYSE Arca, Nasdaq, or Cboe BZX.</p>
<h2 id="h-the-new-kings-of-wall-street">The New Kings of Wall Street?</h2>
<p>Bitcoin ETFs had a tremendous start on Wall Street. According to <a href="https://twitter.com/DocumentingBTC/status/1755944355234214053/photo/1" target="_blank" rel="noopener noreferrer nofollow">data</a>, they attracted over $6.5 billion in assets under management in one month.</p>
<p>BlackRock’s Bitcoin ETF, IBIT, has established itself as the <strong>most popular ETF</strong>, with nearly $3.5 billion collected. Fidelity’s ETF, FBTC, is close behind with $2.8 billion.</p>
<p>Bitcoin ETFs benefited from investors’ enthusiasm for bitcoin, which has seen its price soar since the beginning of the year. On February 8th, it <a href="https://www.cointribune.com/en/bitcoin-explosion-the-crypto-surpasses-45000/" target="_blank" rel="noopener noreferrer nofollow">exceeded the $45,000 mark</a>.</p>
<p>Bitcoin ETFs have not only revolutionized <a href="https://www.cointribune.com/ou-acheter-un-etf-bitcoin-et-comment/" target="_blank" rel="noopener noreferrer nofollow">the ETF market</a> at Wall Street. They have also contributed to the democratization and legitimization of bitcoin as an asset class.</p>

Bitcoin ETFs, the new kings of Wall Street: Is it the right time to invest?

Table of Contents

Cointribune EN

Other articles published on Feb 10, 2024

Tecpetrol’s Innovative Approach: Boosting Oil Production and Reducing Emissions with Crypto Mining

Russian Oligarch Stakes Huge Investment in DeeStream (DST) Presale investing Ethereum (ETH) & Bit...

Ethereum Co-Founder Cracks Deepfake Code, Unveils ‘Secret Question’ Shield

New Cryptocurrency Investment Below $0.01 to Consider This Week

US Senators Call Out SEC’s Chairman For “Misleading Representations” In Crypto Case

dYdX Foundation secures $30M in funding from community treasury for ecosystem growth

Join our free newsletter for daily crypto updates!