Buckle up — ETFs incoming

Fortune just came out with an article explaining that Fidelity has already set its fees (0.39%) for its BTC ETF. That's certainly a lot better than the current 2% Grayscale currently charges for its Bitcoin trust (not a spot ETF). Invesco is set to convert its trust to a spot ETF with 0.59% and 6 months free, according to a LinkedIn news post.

This comes on the heels of the upcoming SEC Jan. 10th deadline, an actual final deadline, not a kick-the-can-down-the-road date, for the Ark21 application. And Goldman is looking to join up with Fidelity and Grayscale.

Stars are aligning for quite a boost in BTC buying as $ billions begin to flow into the market via these new financial routes.

Sources:

— LinkedIn post: https://www.linkedin.com/news/story/fidelity-sets-bitcoin-fees-5605065/

— Fortune (paywalled): https://fortune.com/crypto/2024/01/02/bitcoin-etf-fee-authorized-participant-fidelity-blackrock-galaxy-grayscale/

— Reuters article on Goldman: https://www.reuters.com/business/finance/goldman-talks-with-blackrock-grayscale-be-part-spot-bitcoin-etfs-coindesk-2024-01-03/

— Coindesk on upcoming deadlines: https://www.coindesk.com/policy/2024/01/04/will-2024-be-the-year-of-the-bitcoin-etf/

31 thoughts on “Buckle up — ETFs incoming”

  1. Sorry I can’t read all that unless you tell me you’ve been in crypto since 2017 first.

  2. Im sure billions are just waiting. Dont we have etfs already? Oh thats right, we have. Btc so desperate for yet another narrative 😂

  3. This really isn’t news. This information has been around for a while. They also have to file this as part of their applications

  7. Do these ETF’s have a plan for how the DXY is turning around, the monthly BTC is overbought, and this whole recent BTC run has been increasing on decreasing volume?

    But oh folks … ETF blastoff commencing any second 🙄

  8. The real benefit of the ETFs is going to be the standardized fee structure, which will benefit anyone trading multiple times per year. Crypto brokerages charging fees in percent of the underlying is an insane rip off. Coinbase charging upwards of 0.3% per trade is straight up robbery. That’s $135 of fees to buy one BTC on Coinbase. It’ll be like very cheap if not free to buy ETFs for many people.

  9. ETFs?

    WHAT?

    When did this happen?

    Why hasn’t anyone ever mentioned this before!!!!

  11. 0.39% isn’t bad. People would be comfortable doing that.

    If BTC just gets a small percentage of the big money then it’s in for a good ride.

  12. So is fidelity going to hold physical BTC? And why is it an etf if it is just 1 crypto? I’m out of the loop as to how this works.

  14. What people are forgetting about ETFs is not only does it allow people to go long BTC, but it also allows people to short. ETF shorting is more convoluted than almost any other type of shorting. Institutions could theoretically short BTC and never actually be required to return the shares. They can fail-to-deliver and then after 70+ days, they can cash settle. ETFs create liquidity for both the up and downside.

    For example, some of the most shorted stocks on the market are ETFs. And again, they are also the highest FTD on the market.

  15. Why would it boost BTC if people can now own BTC through ETF and ignore all the new dumb requirements then people will sell BTC and buy this ETF. I will.

  16. While ETF’s are an avenue for the average layperson to have access to purchase Bitcoin in a “safer” way, they still need to be convinced to actually make the move. An ETF doesn’t necessarily matter if no one wants to purchase it. These investment firms are merely a pass through connecting speculative investors with assets.

    It’s like assuming that building a new highway will automatically lead to more car sales. The individual still needs to see benefit in buying the car, highway or not.

  17. Opened a long position on BTC and few other alts almost immediately after the Matrixport FUD crash. Fingers crossed.

  18. This feels like a big banking plan to kill BTC.

    1. Create ETF
    2. Use investor money to purchase most available BTC
    3. Force a liquidation and give investors cash
    4. Stop offering ETF
    5. Retain possession of majority of BTC and never sell.
    6. Get bail out for money lost on forced liquidation

  19. Will the BTC ETFs be available on all major exchanges? For example will the Fidelity ETF be on Vanguard and Schwab.

  21. I am expecting it to be rejected and mother of all liquidation to be happened ,just to remind people it’s Crypto ..especially targeting 2-3xx long trades

  22. It’s going to be funny as hell when the ETFs get approved and then Bitcoin crashes to nothing. Lol

  23. If I have access to a spot bitcoin ETF, I might just use them for the peace of mind.

  24. ETF is cool but the market is about to blow up because of the halving like it always does.

  27. I don’t get it. BTC and ETH ETFs exists already number of years. Suddenly it’s a big thing? Because they will be domiciled in US?

  28. I am against this etf thing because companies maybe sell more BTC etf than BTC supply. But we are here, in the first place this etf not made. Now I hope it will approved, if not it is gonna hurt lots of people in short term especially small investors living pay cheque to pay cheque.

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