Now Should You Buy Bitcoin? The Investment Case for the New Spot Bitcoin ETFs
Money For the Rest of Us
J. David Stein
4.5 • 1.4K Ratings
🗓️ 17 January 2024
⏱️ 31 minutes
🧾️ Download transcript
Summary
We explore reasons for buying Bitcoin using one of the new Bitcoin ETFs. We also consider the risks.
Topics covered include:
- Why the SEC finally decided to approve spot Bitcoin ETFs
- What are the fees and structure of these new Bitcoin ETFs
- How Bitcoin is similar and different from the fiat money system
- Where Bitcoin fits in an investment portfolio
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Show Notes
Statement on the Approval of Spot Bitcoin Exchange-Traded Products - SEC
Coinbase at the Center of Bitcoin ETF Draws Envy and Risks - Bloomberg
Related Episodes
362: Should You Invest in a Bitcoin ETF?
355: Which Money Is Crazier: The U.S. Dollar or Bitcoin?
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Transcript
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| 0:00.0 | Welcome to Money for the rest of us. This is a personal finance show on money. How it works, how to invest it, and how to live without worrying about it. |
| 0:08.0 | I'm your host David Stein today is episode 462. It's title Now Should You Buy Bitcoin? In October 2021 |
| 0:15.8 | over two years ago we released episode 362 should you invest in a Bitcoin |
| 0:20.6 | E.F. It was right after the US Security and Exchange Commission had allowed |
| 0:26.6 | the first Bitcoin EDFs to trade in the US. Except these Bitcoin EDFs didn't hold Bitcoin. |
| 0:35.0 | They invested in Bitcoin futures contracts, for example the ProShare's |
| 0:40.7 | Bit coin strategy E, BITO. |
| 0:44.4 | That Bitcoin ETF attracted a lot of assets, |
| 0:47.9 | over $2 billion, even though the expense ratio is 0.95%. In the conclusion of that episode I said |
| 0:57.2 | bottom line don't buy these new US-based Bitcoin futures EDFs. They-based Bitcoin Futures EDFs. |
| 1:02.8 | They will lag Bitcoin. |
| 1:04.8 | If you want to speculate in Bitcoin, |
| 1:06.6 | learn how to buy Bitcoin on an exchange like coin-based. |
| 1:10.1 | And move those assets into cold storage into a wallet, |
| 1:13.2 | go ahead and go through the hassle of buying Bitcoin |
| 1:16.6 | so you can understand the asset. |
| 1:20.1 | The reason why it was negative on Bitcoin EDFs that invested in Bitcoin futures contracts |
| 1:26.0 | is because of how futures work. |
| 1:28.2 | Even in the prospectus of the ProShare's Bitcoin EDF, it talks about when rolling futures contracts and by |
| 1:34.9 | rolling one futures contract expires and then they buy a forward futures |
| 1:40.6 | contract that expires the next month or the month after and the price of these |
| 1:45.2 | futures contracts are based on what speculators expect the price of the underlying asset |
... |
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