Embark on your Bitcoin ETF investment journey with this guide, unraveling the steps and considerations for purchasing these financial instruments.
Approval of the first-ever batch of spot Bitcoin (BTC) exchange-traded funds (ETFs) by the United States Securities and Exchange Commission (SEC) has raised the spirits of the crypto community globally. The agency has given the green light to 11 applications, including from BlackRock, ARK Invest, Fidelity, VanEck and Invesco.
The watershed moment is expected to be a game-changer for Bitcoin, enabling institutional and retail investors to invest in the largest cryptocurrency by market share without directly holding it. Rather than buying Bitcoin on a crypto exchange, such as Binance or Coinbase, investors can buy the Bitcoin ETF to get exposure to BTC.
With ETFs, investors can buy a product that tracks the price of an associated commodity or security through the same mechanism already in place for index funds. BTC ETFs simplify things for investors as they can manage their holdings without maintaining a crypto wallet or arranging cold storage.
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Source: https://cointelegraph.com/news/how-to-buy-bitcoin-etfs