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Crypto Exchange-Traded Funds. The first crypto ETFs launched on Bitcoin and Ethereum last year. These products have been wildly successful, attracting more capital than many traditional ETFs and ...
In early 2024, US regulators approved the first ever bitcoin spot exchange-traded fund (ETF), opening up the market to hundreds of billions of dollars from previously untapped investors.
The same year, Grayscale Bitcoin Trust (OTCQX: GBTC) began trading over-the-counter on the OTCQX market, becoming the first publicly traded bitcoin fund in the United States. The company charged higher than average fees compared to similar exchange-traded funds (ETFs), but said the fees were to cover the costs of trading bitcoin.
The first gold exchange-traded fund was Gold Bullion Securities launched on the ASX in 2003, and the first silver exchange-traded fund was iShares Silver Trust launched on the NYSE in 2006. SPDR Gold Shares , a commodity ETF, is in the top 10 largest ETFs by assets under management .
ProShares Bitcoin ETF was the first U.S.-based crypto ETF tracking the price of bitcoin futures. According to ProShares, the fund has “performed as designed, providing returns closely aligned ...
In October 2021, the company launched an exchange-traded fund that invests in Bitcoin futures contracts. [ 1 ] [ 8 ] On October 2, 2023, ProShares launched 3 Ethereum Futures ETFs in the US, becoming one of the first companies to launch an Ethereum ETF in US history.
Spot Bitcoin ETFs track the price of the crypto on effectively the same percentage basis, even if they trade at different prices. If Bitcoin rises 1 percent, then the fund should rise 1 percent.
On 19 October 2021, the first bitcoin-linked exchange-traded fund (ETF) from ProShares started trading on the NYSE under the ticker "BITO." ProShares CEO Michael L. Sapir said the ETF would expose bitcoin to a wider range of investors without the hassle of setting up accounts with cryptocurrency providers. Ian Balina, the CEO of Token Metrics ...