Cathy Woods announced that Ark investments had applied for a Bitcoin Spot ETF, and that she thought they would win approval ahead of BlackRock.
Fidelity Asset Management Services aplied for Bitcoin Spotv ETF
Why all the interest?
A Bitcoin Spot ETF is a perfect vehicle for millions of Americans to direct a small percentage of the retuirement investment funds into Bitcoin.
It's easy
It safe from issues with losing your private keys or seed phrase
You account is guaranteed against loss
It's tax deferred
Additionally a SPOT ETF allows you to own shares in a fund, which owns Bitcoin, not futures like the Bitcoin Futures ETF and not heavily leveraged Futures Shares like the recently approved Bitcoin Leveraged Futures ETF.
The SPOT ETF allows logterm investment in Bitcoin, but the futures ETF allows speculation and gambling on the 30 day price of Bitcoin. We all know gambling your money on guessing the price of an asset in 30 days, is unwise.
Cryptocurrency is on the path towards mass adoption, at least for Bitcoin. It's exciting and makes me smile, but like everything in finance ingeneral, and cryptocurrency in particular, tools are duel edge, they help and they hurt, and with Futures they hurt more then they heal.
Ark applies for BITCOIN SPOT ETF | Ecency
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