Bitcoin ETF Coming Soon, Says Fund Expert Dave Nadig
By Josiah Wilmoth
Exchange-traded fund (ETF) market research expert Dave Nadig says he believes the U.S. Securities and Exchange Commission (SEC) is on the cusp of approving the first Bitcoin ETF.
A Bitcoin ETF would greatly benefit the crypto finance industry because it would allow investors to achieve exposure to the price movements of bitcoin without having to purchase and store the coins themselves. The crypto finance space is not as different from traditional forex markets as many investors initially believe, but many people still prefer to concentrate their investments in more familiar investment vehicles.
European investors already have access to two exchange-traded notes (ETNs) that track the price of bitcoin relative to a fiat currency. Bitcoin Tracker One and Bitcoin Tracker EURO–both issued by Swedish firm XBT Provider AB–are traded on the Stockholm-based Nasdaq OMX and available through many European brokerage firms.