Global assets in spot bitcoin ETFs hit $4.16 billion - CoinGecko
© Reuters. FILE PHOTO: Representation of the bitcoin cryptocurrency and a price chart are seen in this illustration taken October 24, 2023. REUTERS/Dado Ruvic/Illustration/File Photo - Global assets invested in exchange-traded funds tied to the spot price of bitcoin now total $4.16 billion, according to CoinGecko, a cryptocurrency data and analysis company.
Proponents say that futures-based ETFs are an imprecise and costlier way to track bitcoin's performance in an exchange-traded product. The SEC has so far denied all spot bitcoin ETF applications, saying applicants have not shown they can protect investors from market manipulation. Europe's seven other ETFs are incorporated in tax havens like Jersey, the Cayman Islands and Liechtenstein. There are also much smaller products traded in Brazil and Australia.
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