Bitcoin's First ETF: Winners and Losers

[Markuri33]

The SEC's approval of a Bitcoin futures ETF is good news—for some much more than others. Well, it finally happened. After more than eight years (!) of pleading by the crypto industry, the SEC has given the go-ahead to a Bitcoin ETF—a move that will give regular folks exposure to the original cryptocurrency via major stock exchanges, and is expected to trigger a moon moment as new money rushes into Bitcoin.

Will it, though?

The occasion has already produced winners and losers, which we'll get to in a moment. First, let's recap what exactly happened here. The SEC allowed an ETF (exchange-traded fund), but not one pegged to the price of Bitcoin, the kind most people wanted. Instead, the agency allowed a Bitcoin futures ETF. What this means is the new fund, which is being packaged by a firm called ProShares, won't give you shares backed by Bitcoin, but shares tied a bundle of contracts to buy Bitcoin in the future.more info