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- Within the cryptocurrency space, an exchange-traded fund (ETF) is a form of investment vehicle that keeps track of the performance of a specific asset or group of assets.
- Specifically, Bitcoin (BTC) ETFs are pretty much the talk of the town as of late
- Bitcoin ETF remains to be the most popular digital asset on the planet, not to mention it mimics the king coin’s price.
Several bitcoin ETFs are already in the market as the United States Securities and Exchange Commission has facilitated tools that are deemed futures-based. Here are some of the notable bitcoin ETFs in the market right now that you might be interested in.
ProShares Bitcoin Strategy ETF
On October 19, ProShares Bitcoin Strategy ETF (BITO) kicked off trading as the futures-based ETF opened the gates of bitcoin futures to traders and investors. Additionally, it’s been keeping track of the Chicago Mercantile Exchange’s (CME) futures contract.
Also, BITO is just one of many products that bitcoin folks have been using to keep an eye on said digital currency. BITO – at the end of last week – almost had $1.178 billion in assets under management and is said to be actively trading alongside over seven million shares by October 29.
Grayscale Bitcoin Trust
The Grayscale Bitcoin Trust (GBTC), on the other hand, is described as a “closed-end grantor trust” which means that it issued several shares that are fixed by the time it went live to the public and started trading within the over-the-counter market. Nonetheless, GBTC shares are representative of several bitcoins that are unfixed.
GBTC, on October 18, surged by 135 percent from $28,800 in late June to $67,680 on that date. It’s also during that time that its shares shot up from $24.00 to $52.68 per share which translates to a 119.5 percent increase.
BITQ and BLOK
Both Bitwise Crypto Industry Innovators ETF (BITQ) and Amplify Transformational Data Sharing ETF (BLOK) have portfolios of firms that would probably take advantage of increasing cryptocurrency prices.
BLOK has over $1.465 billion in assets under management with stocks amounting to $55.47 per share. On the daily, it trades an average of over 457,000 shares, not to mention a management fee of 0.71 percent.
As for BITQ, this one has $97.65 million in assets with $28.22 per share. On average, it trades around 108,000 shares every day and charges a 0.85 percent management fee. Moreover, this ETF is moving alongside the Bitwise Crypto Innovators 30 Index.
Bitwise 10
Lastly, Bitwise 10 Crypto Index Fund (BITW) is watching over the movement of Bitwise 10 Large Cap Crypto Index, in which 10 of the biggest investable cryptocurrencies account for 70 percent of the market.
Its management fee is the priciest of them all at 2.5 percent with an average of 177,000 traded daily.
Additionally, BITW had $1.2 billion in assets amounting to $50.25 per share.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
