Bitcoin ETFs are off to a bad start. Will things improve?
Lessons from similar exchange-traded funds
The path to approval for the first bitcoin exchange-traded funds (etfs) was long and arduous. Applications appeared before regulators in 2013, when the price of a bitcoin was just shy of $100 and nobody had heard of Sam Bankman-Fried or the phrase “to the Moon”. After a decade of rejection, promoters finally succeeded on January 10th, when the Securities and Exchange Commission (SEC) approved 11 applications for ETFs that track the spot price of bitcoin, which was at the time above $46,000.
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This article appeared in the Finance & economics section of the print edition under the headline “All that shines”
Finance & economics February 3rd 2024
- What four more years of Joe Biden would mean for America’s economy
- Bitcoin ETFs are off to a bad start. Will things improve?
- China’s leaders are flailing as markets drop
- Evergrande’s liquidation is a new low in China’s property crisis
- Your pay is still going up too fast
- Biden’s chances of re-election are better than they appear
From the February 3rd 2024 edition
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The great-man theory of Wall Street
Why finance is still dominated by bold individuals
Hong Kong’s property slump may be terminal
Demographics and geopolitics will make a recovery harder
Why everyone wants to lend to weak companies
An unanticipated side-effect of Donald Trump’s election victory
American veterans now receive absurdly generous benefits
An enormous rise in disability payments may complicate debt-reduction efforts
Why Black Friday sales grow more annoying every year
Nobody is to blame. Everyone suffers
Trump wastes no time in reigniting trade wars
Canada and Mexico look likely to suffer