Bitcoin ETFs Number Grows
These days Bitcoin ETFs ( Exchange Traded Funds ) showed no shortage, besides Direxion Funds added leveraged bitcoin strategies to the ETF’s long list.
This event started three years ago, when the Winklevoss brothers first registrated a physical bitcoin ETF. Some 23 filings for bitcoin ETFs have reached regulators in the past few years, after myriad twists and turns. This number seems to be increasing now as the bitcoin futures were launched.
The majority of these proposed funds are derivatives-based strategies that will invest in bitcoin futures. Some focus more broadly on the technology behind bitcoin, the blockchain; and a few are still hoping to offer investors a physical bitcoin portfolio at some point in time.
Regulators have yet to signal whether an approval of any or all of bitcoin strategies is imminent.
Meanwhile, ETF investors can access bitcoin through two ARK Invest funds, the ARK Web x.0 ETF (ARKW) and the ARK Innovation ETF (ARKK), each of which have an approximate 7% allocation to the cryptocurrency.