The Business Times
business-time-50
BT EXPLAINS

As spot Bitcoin ETFs begin trading, here’s what you need to know

google-preferred-sourceAdd BT as a preferred source
Uma Devi

Uma Devi

Published Fri, Jan 12, 2024 · 02:05 PM
    • Checks by The Business Times found that at least some of these exchange-traded funds (ETFs) are available through the following brokerages: FSMOne, Interactive Brokers, Moomoo and Phillip Securities.
    • Checks by The Business Times found that at least some of these exchange-traded funds (ETFs) are available through the following brokerages: FSMOne, Interactive Brokers, Moomoo and Phillip Securities. PHOTO: REUTERS

    THE first spot Bitcoin exchange-traded funds (ETFs) – including BlackRock’s iShares Bitcoin Trust and the Grayscale Bitcoin Trust – debuted on stock exchanges in the United States overnight.

    Trading volume exceeded US$4.6 billion on Jan 11 (Thursday), the first day of trading, Reuters reported. The wire service added that funds from Grayscale, BlackRock and Fidelity dominated trading. The Business Times answers some questions about these new market products:

    What are spot Bitcoin ETFs?

    These are funds holding Bitcoin that trade on exchanges just like stocks. Previous cryptocurrency ETFs held only Bitcoin futures, which is why Bitcoin enthusiasts are so keen on the spot Bitcoin ETFs.

    BitcoinETFBT Explains

    TRENDING NOW

    The deal for the sale of Scotts Square mall, just off Orchard Road, is said to be in the early stages of being worked out, at a price of about S$320 million.

    Father-and-son duo Raj Kumar and Kishin in exclusive due diligence to buy Scotts Square

    Handled passively, satellite connectivity becomes a service that the telco distributes, while somebody else sets the economics.

    When every phone becomes a satellite phone, what happens to Asia’s telcos?

    The company says the disputes do not cast significant doubt on its viability as a going concern.

    Koh Brothers Eco Engineering faces up to S$57.6 million in potential legal liabilities

    Under the Philippines’ new policy, up to four EV models will be provided with as much as 15 billion pesos each in fiscal support, in the form of tax payment certificates.

    Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More