Bitcoin ETFs are off to a bad start. Will things improve?
Lessons from similar exchange-traded funds
The path to approval for the first bitcoin exchange-traded funds (etfs) was long and arduous. Applications appeared before regulators in 2013, when the price of a bitcoin was just shy of $100 and nobody had heard of Sam Bankman-Fried or the phrase “to the Moon”. After a decade of rejection, promoters finally succeeded on January 10th, when the Securities and Exchange Commission (SEC) approved 11 applications for ETFs that track the spot price of bitcoin, which was at the time above $46,000.
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This article appeared in the Finance & economics section of the print edition under the headline “All that shines”
Finance & economics February 3rd 2024
- What four more years of Joe Biden would mean for America’s economy
- Bitcoin ETFs are off to a bad start. Will things improve?
- China’s leaders are flailing as markets drop
- Evergrande’s liquidation is a new low in China’s property crisis
- Your pay is still going up too fast
- Biden’s chances of re-election are better than they appear
From the February 3rd 2024 edition
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