This section covers cryptocurrency ETFs, ETNs, trusts, funds, and other such products. For example, this section includes GBTC.

NOTE: The Bitcoin Investment Trust (GBTC) is a trust that holds Bitcoin. Shares of the trust can be purchased on the stock market. The trust holds about 170,000 bitcoins. Each share represents about .092 bitcoins (so if you own 10 shares, you own contracts that represent just under 1 bitcoin). In other words, GBTC isn’t a cryptocurrency. Instead, it represents ownership of a cryptocurrency held in a trust by the Greyscale investments.

ETCG Trading Below ETC Cost

A bit of milestone today, ETCG traded below the cost of ETC. For an asset that used to trade at over 2x of ETC’s value, that is a little mind blowing.

Van Eck SolidX ETF Postponed

The SEC’s decision on the Bitcoin ETF from Van Eck Securities Corp. and SolidX Management is postponed while the SEC requests another round of comments from the public. The exact decision date isn’t clear, but essentially it is 21 days for comments from Sept 20th (when the order was published in the Federal Register), 35 days for rebuttals from that date, and then with that information another decision has to be made.

GBTC and ETCG Premiums are Melting Off

The premiums on GBTC and ETCG just keep getting lower and lower as the crypto bear market drags on. If crypto recovers, finding the bottom of these could be epic.

SEC Rejects 9 ETFs, Market Doesn’t Flinch

After rallying over Bitcoin ETF hopes in July, and then crashing over ETF fears in August, the market didn’t even flinch as the SEC rejected 9 Bitcoin ETFs at once on August 22nd.

SEC Deadline on Proshares Bitcoin ETF is this Week

The SEC must approve or deny two Proshares Bitcoin ETFs this week. The deadline is Thursday the 23rd, they cannot extend the decision. This isn’t great timing considering the price of Bitcoin, recent ETF drama, and the SEC’s history of denials…. or is it?!