Looking for the adrenaline rush of investing in Bitcoin but without the bother of crypto-exchanges and digital wallets? An exchange-traded fund might appeal, except an investor won’t find one tracking Bitcoin in the $5.9 trillion U.S. ETF universe at least not yet. While exchange-traded crypto-tracking products exist in Europe and a Bitcoin ETF opened in February in Canada, U.S. regulators have repeatedly batted down attempts to introduce them, citing concerns about potential manipulation and
ETF Issuers Find Creative Workarounds to SEC’s Crypto Stance The Simplify U.S. Equity PLUS Bitcoin ETF (SPBC) will invest up to 15% of its assets in cryptocurrencies, either “indirectly and solely” through the $34 billion Grayscale Bitcoin Trust (GBTC).
Katie Greifeld | Mar 11, 2021
(Bloomberg) U.S. exchange-traded fund issuers are getting increasingly creative as the Securities and Exchange Commission continues to demur on approving a pure cryptocurrency fund.
While the bulk of its holding will be in U.S. stocks, the
Simplify U.S. Equity PLUS Bitcoin ETF (SPBC) will invest up to 15% of its assets in cryptocurrencies, either “indirectly and solely” through the $34 billion
San Francisco-based Bitwise Asset Management, Inc., a crypto manager, runs the Bitwise 10 Crypto Index Fund, which accounts for over 90 percent of its total assets under management. The index was launched in 2017 and now oversees more than US$ 1 billion in cryptocurrency assets under management. Grayscale Bitcoin Trust is a traditional investment vehicle […]
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