RATE Group | Forget Bitcoin ETF, an ETN Already Allows US Investors to Invest in BTC
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Forget Bitcoin ETF, an ETN Already Allows US Investors to Invest in BTC

17 Aug Forget Bitcoin ETF, an ETN Already Allows US Investors to Invest in BTC

Posted at 22:58h in Bitcoin News by

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bitcoin etf

Bitcoin ETF has been the big story of 2018 in the cryptocurrency space. But, a similar product already exists and with it, investors in US markets will be able to allocate more funds into the bitcoin market.

Exchange-Traded Notes (ETNs) in Sweden

Nine companies have applied to the US Securities and Exchange Commission (SEC) to operate a bitcoin exchange-traded fund (ETF) in the US stock market. The Chicago Board Options Exchange (CBOE) and VanEck bitcoin ETFs are said to have the highest probability of being approved by the SEC by early 2019.

ETFs are publicly tradable instruments listed on the stock market which allow investors to trade assets and commodities with their brokerage accounts. Through ETFs, investors in the stock market can invest in commodities like copper and gold.

Investors in the cryptocurrency sector including BKCM founder Brian Kelly and Fundstrat analyst Tom Lee have said that the introduction of a bitcoin ETF in US markets will effectively legitimize the…

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