As cryptocurrency world is bragging about Bitcoin ETFs being traded publicly, not a single one of them has yet been approved by the SEC. ChangeNOW is breaking down the basics of ETF and pondering about the general possibility of ETFs trade. Spoiler alert: there are some people who say it is possible in the near future.
Generally, an ETF is an exchange-traded fund. This investment type relies on the price of an underlying asset — gold, oil or something else valuable. The point of ETFs is that any investor can get involved with the asset of their liking without having to own the actual physical entity. ETFs are also cheaper than the original asset — this makes them open to a wider range of investors.
Bitcoin ETFs are not available yet, but there is a range of exchange-traded BCT financial products that are ready for purchasing.
The list of them is provided on ChangeNOW’s blog.