On the contrary, market participants believe that Bitcoin ETFs may not make sense for retail investors. Such instruments are usually opted by institutions for passive exposure.
Bitcoin ETFs will allow the investors to gain exposure in the digital asset class without getting into the complications and risks of directly purchasing Bitcoin.
BlackRock, VanEck, Ark Investments/21Shares and Bitwise, among others, said in filings with the Securities and Exchange Commission (SEC) that they expect to significantly undercut the average market rate for U.S. ETFs as the battle for market share heats up ahead of an SEC approval deadline on Wednesday.