Should You Invest in a Bitcoin ETF?
Money For the Rest of Us
J. David Stein
4.5 • 1.4K Ratings
🗓️ 20 October 2021
⏱️ 31 minutes
🔗️ Recording | iTunes | RSS
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Summary
Why the new U.S.-based Bitcoin ETFs are a bad idea and will underperform Bitcoin.
Topics covered include:
- What fund and ETF options are available for investing in Bitcoin
- Why the U.S. has only authorized Bitcoin ETFs that invest in Bitcoin futures even though there are closed-end funds that hold Bitcoin directly
- What is there a regulatory battle surrounding cryptocurrencies?
- How closed-end funds differ from ETFs
- How Bitcoin futures work
- Why Bitcoin ETFs that invest in Bitcoin futures will lag the performance of owning Bitcoin directly
- Why investors should avoid the new U.S. Bitcoin ETFs
Thanks to Policygenius and Justworks for sponsoring the episode.
For more information on this episode click here.
Show Notes
Bitcoin Strategy ETF—ProShares
Purpose Bitcoin ETF—Purpose Investments
Jacobi receives approval for "world’s first tier one" bitcoin ETF—Funds Europe
Rustication by Dennis J. Pogue—Mount Vernon Ladies' Association
Is Thomas Jefferson’s Monticello Constructed of Rammed Earth?—Earth Architecture
Related Episodes
355: Which Money Is Crazier: The U.S. Dollar or Bitcoin?
319: Here Come Central Bank Digital Currencies
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Transcript
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| 0:00.0 | Welcome to Money for the Rest of Us. |
| 0:03.2 | This is a personal financial on money. |
| 0:05.8 | How it works, how to invest it, and how to live without worrying about it. |
| 0:09.7 | I'm your host, David Stein, today's episode 362. |
| 0:14.1 | It's titled, Should You Invest in Bitcoin ETFs? |
| 0:19.9 | Today the first US-based Bitcoin exchange traded fund launched. |
| 0:25.6 | This the pro shares Bitcoin's strategy ETF, BITO. |
| 0:31.2 | There'll be another ETF by Envesco that is linked to Bitcoin that starts trading tomorrow. |
| 0:38.8 | This is by no means the world's first Bitcoin ETF. |
| 0:43.6 | That honor goes to the purpose Bitcoin ETF, BTCC, which launched in February 2021 and trades |
| 0:52.4 | in Canada. |
| 0:54.6 | In Europe, Jacobi asset management yesterday were given authorization to launch their own |
| 1:02.0 | Bitcoin ETFs. |
| 1:04.6 | Bitcoin ETFs are coming, but they're not all the same. |
| 1:09.0 | The Canadian ETF actually owns Bitcoin, as will the ETF by Jacobi asset management. |
| 1:18.2 | All of the US-based Bitcoin ETFs won't own Bitcoin. |
| 1:24.0 | They will have positions in Bitcoin futures, and we'll see in this episode that the |
| 1:29.9 | performance of investing in Bitcoin futures will be very, very different from investing |
| 1:35.8 | in Bitcoin. |
| 1:38.0 | Why is it that the US couldn't approve an ETF that invests in Bitcoin? |
| 1:45.8 | There are funds that invest and hold Bitcoin itself. |
| 1:51.0 | There's been one in place since 2013. |
... |
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