Recently, I’ve been wondering about crypto’s NEXT BIG MOMENT.
What it will look and feel like when institutional money starts pouring in.
So I did a little digging…
I found out that what’s new in this country is old hat in other parts of the world.
A bitcoin exchange-traded product has been around in Europe since 2015! An ethereum one has been around since 2017.
Now, these are ETNs, or exchange-traded notes. They’re not exactly ETFs (exchange-traded funds), but they’re very similar. Unlike ETFs, they don’t allow for ownership in a pool of securities. Rather, they’re debt instruments that mature.
But, like ETFs, they follow an underlying index. These ETNs follow indexes that mirror the price of bitcoin and ethereum, with the repayment of principal depending on how the index performs.