Posted 12/28/2023, 5:26:33 AM
Bitcoin ETF Race Heats Up as Major Players Prepare for Spot Bitcoin Funds
- ETF analysts confirm Bitcoin spot ETFs will be fully backed by actual Bitcoin, not "paper Bitcoin" or fractional reserves
- 14 ETF issuers are racing to get approval from the SEC before the Dec 29th deadline
- Ark Invest has sold all of its Grayscale Bitcoin Trust shares, using half the money to buy shares in the BITO ETF
- Institutions often use liquid ETFs like BITO for transitions between investments
- Speculation continues around the projected January launch of the first Bitcoin spot ETF