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The first $Bitcoin(BTC.CC$ exchange-traded fund is expected to start trading this Tuesday, making the most widely traded cryptocurrency available to most investors with a brokerage account.
The ETFs would buy bitcoin futures contracts, primarily front-month trading on a regulated venue like the Chicago Mercantile Exchange (CME), in a bid to mimic the cryptocurrency’s price performance instead of purchasing actual coins.
Assuming Wall Street embraces these ETFs, the futures premium, or the spread between futures prices and spot prices, would rise significantly, boosting yields from cash and carry strategy, which involves buying the asset in the spot market and simultaneously selling futures contracts.
“If the futures ETF comes out, there will be more inflows into buying futures.
Despite the lack of faith over non-futures ETF, the world's biggest cryptocurrency still rose to $61,869.05, its highest since mid-April. It has risen by more than half since Sept. 20 and is closing in on its record high of $64,895 hit in April.
Source:
Impending Futures-Based Bitcoin ETFs May Boost Cash and Carry Yields
The ETFs would buy bitcoin futures contracts, primarily front-month trading on a regulated venue like the Chicago Mercantile Exchange (CME), in a bid to mimic the cryptocurrency’s price performance instead of purchasing actual coins.
Assuming Wall Street embraces these ETFs, the futures premium, or the spread between futures prices and spot prices, would rise significantly, boosting yields from cash and carry strategy, which involves buying the asset in the spot market and simultaneously selling futures contracts.
“If the futures ETF comes out, there will be more inflows into buying futures.
Despite the lack of faith over non-futures ETF, the world's biggest cryptocurrency still rose to $61,869.05, its highest since mid-April. It has risen by more than half since Sept. 20 and is closing in on its record high of $64,895 hit in April.
Source:
Impending Futures-Based Bitcoin ETFs May Boost Cash and Carry Yields
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$Bitcoin(BTC.CC$ notched a fresh all-time high Wednesday as investors cheered the successful launch of the first U.S. bitcoin futures exchange-traded fund $ProShares Bitcoin Strategy ETF(BITO.US$ .
The world’s largest cryptocurrency is now above $65000, according to Coin Metrics. The coin at its highs passed the $66,900 level Wednesday, topping a previous intraday record of $64,899 set in mid-April.
Big change since 2020:
$ProShares Bitcoin Strategy ETF(BITO.US$ , which tracks bitcoin futures contracts pegged to the future price of the cryptocurrency, rose nearly 5% on its first day of trading Tuesday.
However, not everyone in the crypto market was impressed. “More products are great, but I just don’t see the point of investing in futures-based bitcoin ETFs when you can buy the asset in the spot market,” said Jodie Gunzberg, managing director of CoinDesk Indexes.
Any thoughts to share about BTC and BITO?
Click to join the discussion and win points!
Source:
Bitcoin jumps to new high above $66,000 after landmark U.S. ETF launch
The world’s largest cryptocurrency is now above $65000, according to Coin Metrics. The coin at its highs passed the $66,900 level Wednesday, topping a previous intraday record of $64,899 set in mid-April.
Big change since 2020:
$ProShares Bitcoin Strategy ETF(BITO.US$ , which tracks bitcoin futures contracts pegged to the future price of the cryptocurrency, rose nearly 5% on its first day of trading Tuesday.
However, not everyone in the crypto market was impressed. “More products are great, but I just don’t see the point of investing in futures-based bitcoin ETFs when you can buy the asset in the spot market,” said Jodie Gunzberg, managing director of CoinDesk Indexes.
Any thoughts to share about BTC and BITO?
Click to join the discussion and win points!
Source:
Bitcoin jumps to new high above $66,000 after landmark U.S. ETF launch
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Find out the latest Bitcoin market $Bitcoin(BTC.CC$ update on how to anticipate a rally up before it happens by analyzing the supply and demand. This video is extracted from my Weekly Live session on 7 Nov 2021.
If you are trading blockchain/crypto mining related stocks such as $Marathon Digital(MARA.US$ , $Riot Blockchain(RIOT.US$ , $Coinbase(COIN.US$ , $Silvergate Capital(SI.US$ , $Canaan(CAN.US$ , $Hut 8 Mining(HUT.US$ , $MicroStrategy(MSTR.US$ , $Bit Digital(BTBT.US$ , $Bitfarms(BITF.US$ , etc…definitely pay attention to the price action of Bitcoin $Grayscale Bitcoin Trust(GBTC.US$ . Watch the video below:
If you are trading blockchain/crypto mining related stocks such as $Marathon Digital(MARA.US$ , $Riot Blockchain(RIOT.US$ , $Coinbase(COIN.US$ , $Silvergate Capital(SI.US$ , $Canaan(CAN.US$ , $Hut 8 Mining(HUT.US$ , $MicroStrategy(MSTR.US$ , $Bit Digital(BTBT.US$ , $Bitfarms(BITF.US$ , etc…definitely pay attention to the price action of Bitcoin $Grayscale Bitcoin Trust(GBTC.US$ . Watch the video below:
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$Bitcoin(BTC.CC$
Bitcoin appears to be setting up a new very tight range after breaking down below the previous range it was held within for several weeks. Currently it is right at the bottome of this range so there could be a possible break down very soon. But it if bounces then it will confirm the horizontal range in the consolidation pattern. During the previous range I traded the support and resistance of the range only a few times for ov...
Bitcoin appears to be setting up a new very tight range after breaking down below the previous range it was held within for several weeks. Currently it is right at the bottome of this range so there could be a possible break down very soon. But it if bounces then it will confirm the horizontal range in the consolidation pattern. During the previous range I traded the support and resistance of the range only a few times for ov...
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come down to 1k so I can enter and buy some
I think $ProShares Bitcoin Strategy ETF(BITO.US$ is a good alternative to trading in Bitcoin directly and dealing with the hassle of crypto wallets, especially since it looks to be a while before moomoo can get the crypto licence. As the first US Bitcoin Fuutures ETF to be listed, interest in it is very high. It debuted as the second highest traded fund, reaching 1billion USD in assets in 2 days.
Disclaimer: The above is just my personal opinion. It is not financial advice or a recommendation to buy/sell. Please consult your financial consultant before making any investment decision.
Check out Habits to Becoming A Better Trader https://www.moomoo.com/community/feed/107349899149318?lang_code=2
Disclaimer: The above is just my personal opinion. It is not financial advice or a recommendation to buy/sell. Please consult your financial consultant before making any investment decision.
Check out Habits to Becoming A Better Trader https://www.moomoo.com/community/feed/107349899149318?lang_code=2
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After a long wait for more than 10 years since the first filing, the SEC has finally approved a spot bitcoin exchange-traded fund (ETF).
A total number of 11 Spot Bitcoin ETFs was approved, these has began trading on Thursday (11 Jan), have you invested in any of them? I personally think that Spot bitcoin ETFs are the best option on the fund market for bitcoin investors, especially for investors who does not want to hold Bitcoin as crypto cur...
A total number of 11 Spot Bitcoin ETFs was approved, these has began trading on Thursday (11 Jan), have you invested in any of them? I personally think that Spot bitcoin ETFs are the best option on the fund market for bitcoin investors, especially for investors who does not want to hold Bitcoin as crypto cur...
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Wow! ![]()
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This is the first time in history that an ETF, backed by $Bitcoin(BTC.CC$ futures, is now available for trading.
On its first day of trading, it attracted more than USD 570 million, which is 28.5 times of its USD 20 million seed capital.
Congratulations, ProShares, the $ProShares Bitcoin Strategy ETF(BITO.US$ sponsor who come out with such an innovative product.![]()
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This is the first time in history that an ETF, backed by $Bitcoin(BTC.CC$ futures, is now available for trading.
On its first day of trading, it attracted more than USD 570 million, which is 28.5 times of its USD 20 million seed capital.
Congratulations, ProShares, the $ProShares Bitcoin Strategy ETF(BITO.US$ sponsor who come out with such an innovative product.
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$Bitcoin(BTC.CC$
Very long term outlook still looks bullish as Bitcoins price is near a very long term support.
BTC is still stuck within this range. We had a false breakout recently but the price crashed back down into range with the rest of the crashing markets last week. As you can see below BTC has dipped below the very long term support mentioned above. This has happened a couple times the past several weeks but the price would quickly jump back above support. Will this time...
Very long term outlook still looks bullish as Bitcoins price is near a very long term support.
BTC is still stuck within this range. We had a false breakout recently but the price crashed back down into range with the rest of the crashing markets last week. As you can see below BTC has dipped below the very long term support mentioned above. This has happened a couple times the past several weeks but the price would quickly jump back above support. Will this time...
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$ProShares Bitcoin Strategy ETF(BITO.US$ So is this going to be the first meme ETF?
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Louou : I think it will accelerate the development of cryptocurrency industry and promote asset custody
Mars Mooo :
kats_ : The successful application of bitcoin ETF will first reduce the threshold of bitcoin trading and bring a lot of funds to the bitcoin trading market
jo99 Louou: @年年有余 长长久久
jo99 kats_: $Aterian Inc (ATER.US)$
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