Podcast - Bitcoin ETF (BITO) debut - what is it and where to buy?

Bitcoin ETF (BITO) debut - what is it and where to buy?

  • What is Bitcoin ETF - BITO?
  • On which platforms/apps you can buy it?
  • Michael Sapir, CEO of ProShares, emphasized that the launch of the Bitcoin ETF constitutes a milestone. "1993 is remembered for the first equity ETF, 2002 for the first bond ETF, and 2004 for the first gold ETF. 2021 will be remembered for the first cryptocurrency-linked ETF”.

Transcript

Hey, everyone. So breaking news this week. So first Bitcoin ETF begins trading.

So eight years after the first episode application for a Bitcoin exchange traded fund, it's called ETF. Abbreviation was filed by the vehicle was browsers. The first Bitcoin ETF in the United States will begin trading. And the New York Stock Exchange Brochures, a provider of specialized exchange traded products based in Maryland. Part an application Friday to begin trading or Bitcoin Strategy Fund.

So the fund, which will be trended under ticker B-I-T-O, will trade Bitcoin BTC USD prices through futures contracts. Try that at Chicago Mercedile Exchange CME.

So it's interesting. Michael Sapphire, CEO of Brochures, emphasized that the launch of ETF counts as a milestone. Three is for the first equity ETF 2002, the first bond ETF 2004, the first gold ETF and 2021 will remember the first crypto currency linked ETF.

So I was just listening to the all in podcast recently, and we think David Sachs and Chamat were discussing all of that. Like what's the best way to invest in all of this? Like crypto assets, NFCs, and they have huge teams with mathematicians, scientists just researching all the opportunities, all the tokens blockchains and all of that. And of course, if you are just a regular person, you don't have all these resources to do your research. And the same as with stocks, like how to know that inside information, with stocks like which one to buy and all of that.

So it's a good idea just to have ETF exchangeride fund.

I don't have that much experience with investing, but basically it has less risk and it basically combines top performing assets or something like that. So sometimes in stocks it can be like top 500 companies we just have combined together or something, some bonds, all of that, you just have lower risk. And it just slowly grows like 5% per year over the years. So that's kind of another way of investing compared to if you just invest money in a single stock. For example, if you buy just some Apple stock or something.

But of course, it's also good to buy Apple stock. Anyways.

The Pro Shares fund will provide exposure in the cryptocurrency investors who have a brokerage account but do not desire to go through the hassle and learning of establishing another account, the cryptocurrency providers and all of that Bitcoin ETF application to include from investment firms in Vascular Ltd.

Investments one AC associations. So it took some time. So it was a Rocky pass to approval.

But still it's like super interested and Bitcoin price at a new record, charging beyond $63,000 on October 17.

That's that and of course, Bitcoin price search even more probably because of this ETF. So then the ticker bit jumped 4.8% to close at $41 $94.

So the fund tracks CME Bitcoin futures or contracts speculating on the future price of Bitcoin rather than crypto itself.

That means investors in the should expect the price and performance of the share to differ somewhat from the price of Bitcoin itself. This isn't ideal for existing investors. Many of them take a long cryptocurrencies and had hopes for an ETF that would track physical Bitcoin that investors could buy and hold.

There you have it. I'm just reading here CNBC article. So this fund tracks the Bitcoin futures or contracts rather than the crypto itself. The price of Bitcoin jumped more than 4% Tuesday to $64,000, and it highlights the remarkable growth of ETF industry as a whole.

So it's just interesting.

I'm just also curious. Let's discuss later where you would be able to buy a Bitcoin ETF. So if you're interested, where can you buy that? So as I understand, it should be available like on Robinhood on Vbull.

Like Itora, there are a bunch of sites for mentioning that. So I just downloaded Vbool and I want to search for Beta.

Okay, so yeah, you can buy Beta on Weebly. So that's interesting.

So I can confirm that it works on his weebly app with Itora. I'm just logging in. I'm trying to search for Beta. I can't find it yet.

And probably it works on Northern Hood as well. So that's where you can go to buy Beta if you're interested.

So that's that and of course, there are more of these ETFs coming. I think also in the whole crypto space, there will be more and more ETFs, just not only Bitcoin, all of this, like combining all of this top performing crypto coins, top performing tokens assets, maybe even NFTs and all of that. So if you don't want to risk all your assets like in one place, you can just buy just this ETF, and it will be much safer.

That's just an overview just to bring your attention. Now, there is this cool opportunity with coin ETF. So jump on this train if you like, or maybe you can wait for another one.

Thanks for tuning in.