These are all the Bitcoin ETFs currently trading in the US.

The first application for a US Bitcoin exchange-traded fund was filed in 2013 Bitcoin ETF It has become a sacred thing for the crypto community. And now it's finally here.

An ETF is a publicly traded investment vehicle that tracks the value of assets. In the case of the Bitcoin ETF, that is an asset Bitcoin. Bitcoin ETF advocates argue that the complexities of exchanges, wallets, and private keys are still formidable barriers for newcomers to the crypto space. Bitcoin ETFs allow these investors to gain exposure to Bitcoin without holding their own currency.

The United States Securities and Exchange Commission (SEC) approved the first 10-position Bitcoin ETF on January 10, and they all began trading on January 11. Here's an overview of Bitcoin ETFs currently trading in the US. Take a look at futures ETFs and how they differ.

BlackRock's iShares Bitcoin Trust (IBIT)

In June 2023, the world's largest asset manager, BlackRock—with more than $9 trillion in assets under management as of Q1 2023—took the TradFi world by surprise. You have submitted an application. ETF for Bitcoin space. Now live on NASDAQ, the iShares Bitcoin Trust (IBIT) is one of the most high-profile Bitcoin ETFs on the market, and has a 0.25% regular fee.

However, BlackRock is cutting its fee to 0.12% for the first $5 billion in assets or 12 months, whichever comes first. BlackRock is using Coinbase as a crypto custodian and spot market data provider, with BNY Mellon as a custodian. So is the organization It has been named. JP Morgan Securities, Jane Street Capital, Macquarie Capital and Virtu Americas as authorized participants.

Grayscale Bitcoin Trust (GBTC)

Crypto investment fund manager Grayscale's GBTC The Bitcoin Trust is well managed with more than 600,000 BTC (worth about $28 billion at today's prices) which has been discovered. There is no secret From the desire to convert the trust into a full Bitcoin spot ETF. In fact, it was Greyscale's legal push that helped turn the tide on the SEC. Chairman Gary Gensler reluctantly admitted.

As an actual ETF listed on NYSE Arca, GBTC has the highest fee of any U.S.-based Bitcoin ETF at 1.5%, down slightly from GBTC's 2% fee before the switch. Analysts suggest that the higher payout could be a measure to keep GBTC holders from dumping the shares due to the potential tax burden.

Grayscale may be talking about its long track record and huge BTC holdings, despite its high fees, which will keep investors from looking elsewhere. Coinbase acts as the crypto custodian and index provider, with BNY Mellon as the administrator. Jane Street, Virtu Americas, Macquarie Capital, and ABN AMRO Clearing are authorized participants.

Fidelity Wise Home Bitcoin Fund (FBTC)

March 2021 saw rapid adoption of Bitcoin ETFs, including Fidelity's Wise origin Bitcoin TrustPerhaps weeks ago, Jurien Timmer, the director of Global Macro, said that BTCO has Bitcoin. “Special Benefit” More than gold.

Uniquely, Fidelity chose to hold its own Bitcoin under an ETF instead of using Coinbase or Gemini. The Fidelity Wise Origin Bitcoin Trust trades on Cboe BZX and has a standard fee of 0.25%, but Fidelity is leaving until August 1, 2024. Authorized participants include Jane Street, JP Morgan Securities, Macquaries and Virtu Americas.

Bitwise Bitcoin ETF (BITB)

Bitwise first filed for a Bitcoin ETF in October 2019, but like many other apps, It was not accepted. According to the SEC. But Bitwise persevered, and was the first hope Start an advertising campaign In relation to the Bitcoin ETF, actor Jonathan Goldsmith called the beer company Dos Equis known for portraying “the most interesting person in the world” – to convey the message that “Bitwise is fun”.

Now live on the NYSE Arca, the Bitwise Bitcoin ETF It has the lowest fee of any current position offered at 0.20% – but Bitwise is waiving the fee entirely for the first $1 billion worth of assets or for six months, whichever comes first. Coinbase is the custodian of crypto, while BNY Mellon is both the administrator and fiduciary. Jane Street, Macquarie and Virtu Americas are all authorized participants.

WisdomTree Bitcoin Fund (BTCW)

New York-based asset manager Wisdomtree already has experience running a Bitcoin ETF; is it. kick off One of the six stock exchanges in Switzerland in 2019. In March 2021, it joined the US Bitcoin ETF prospects S-1 With the SEC's proposal to list shares in WisdomTree Bitcoin Trust on the Cboe BZX exchange under the ticker BTCW.

Now listed on Cboe under the symbol BTCW, the WisdomTree Bitcoin Fund It has a standard fee of 0.3%, although according to Bitwise, the company is waiving that completely for the first six months or until $1 billion worth of assets are traded (whichever comes first). Coinbase is the custodian of crypto here and State Street Bank & Trust is the administrator and custodian of funds. Jane Street, Virtu Americas and Macquarie Capital have signed on as authorized participants.

Invesco Galaxy Bitcoin ETF (BTCO)

Galaxy Digital and Invesco to Offer Joint Bitcoin ETF in September 2021; Invesco Galaxy Bitcoin ETF. Accordingly FilingHis ETF will be “physically backed” by Bitcoin, not derivatives like futures. Invesco is the fourth largest provider of ETFs in the United States, so it has a long history before the launch of Bitcoin.

of Invesco Galaxy Bitcoin ETF (BTCO) is now trading on the Cboe BZX at a regular fee of 0.39%. BNY Mellon is the transfer agent and custodian of funds, while Coinbase handles crypto custody. JP Morgan Securities, Jane Street, Virtu Americas and Marex Capital Markets are authorized participants.

Valkyrie Bitcoin Fund (BRRR)

Property manager Valkyrie, who entered the competition relatively recently, entered first Application For Bitcoin ETF in January 2021. Now the Valkyrie Bitcoin Fund The live signal is using BRRR—a fun cue for “the money printing goes brrr,” referring to the Federal Reserve flooding the economy with cash. It is sure to please some Bitcoin die-hards.

Trading on the NASDAQ, the ETF has a standard fee of 0.25%, but Valkyrie is waiving its sponsor fee entirely for three months. The Valkyrie Bitcoin Fund uses Coinbase as its primary broker and custodian of bitcoins, with Bank of America as its custodian. Jane Street and Cantor Fitzgerald & Co. You have signed as an authorized participant.

Ark 21 Shares Bitcoin ETF (ARKB)

Arch Invest, an investment firm led by Cathy Wood, presented it Application For Ark 21Shares ETF in June 2021. Arc Invest has partnered with Swiss-based ETF provider 21Shares AG to offer this. Arc 21 Shares Bitcoin ETF; It is traded on the Cboe BZX exchange under the symbol ARKB.

The ARKB ETF nearly matches Bitwise's minimum fee of 0.21%, and like other companies, they are waiving the sponsor fee entirely for six months or until it reaches $1 billion in assets. Coinbase is a crypto custodian and Jane Street, Macquarie and Virtu Americas are authorized participants.

VanEck Bitcoin Trust (HODL)

VanEck is one of the first Bitcoin ETF applicants. The first stab at Bitcoin ETF-VanEck SolidX Bitcoin Trust came back in 2018 in partnership with SolidX. The symbol “HODL” indicates Common Bitcoin lingo; In the year In 2013, the word “capture” was returned to a fearfully questionable spelling. BitcoinTalk forum post. VanEck is also donating 5% of fund profits to Bitcoin Core developers.

Where most of the other applicants have named Coinbase as the custodian of Bitcoin in support of their ETFs, VanEck has instead chosen rival exchange Gemini to protect his Bitcoin. of VanEck Bitcoin Trust It trades on Cboe and has a fee of 0.25%, with Jane Street, Virtu Americas and ABN AMRO Clearing signed as authorized participants.

Franklin Bitcoin ETF (EZBC)

Franklin Templeton, the world's largest asset manager with nearly $1.4 trillion in assets; He joined the competition For Space Bitcoin ETF in September 2023. ETF shares are listed on the Cboe BZX exchange – and like most indicators, crypto exchange Coinbase is the fund's custodian.

Using the marker EZBC, the Franklin Bitcoin ETF It currently has a fee of 0.29%, which is in the middle of the pack for the current crop of spot ETFs. No obvious discount for early investors. Jane Street and Virtu Americas are listed as authorized participants.

What about Hashdex?

The largest crypto asset management company in Latin America, Hashdex, He entered the fray By August 2023, proposing to convert an existing Bitcoin futures ETF into a spot ETF. Although it says it will begin trading as a spot ETF immediately, Hashdex announced Thursday afternoon that the Hashdex Bitcoin Futures ETF (DEFI) transition will take place at a later date.

Hashdex uses an unusual strategy that sets it apart from other Bitcoin ETF operators, acquiring Bitcoin from the regulated CME (Chicago Mercantile Exchange). DeFi stands for decentralized finance, a catch-all term that includes cryptocurrencies and related protocols.

The location Hashdex Bitcoin ETF Arca trades on the NYSE and features the second largest payout at 0.94%, behind GBTC, another convertible ETF. Jane Street, Macquarie and Virtu Americas are authorized participants.

What about the future of Bitcoin?

Spot Bitcoin ETFs are newly approved in the United States, but the SEC approved Bitcoin futures ETFs in 2021 and those have been trading ever since. Bitcoin futures allow investors to predict the future value of an asset, rather than investing in a fund that holds the asset, which will fall based on its price.

Current Bitcoin futures ETFs in the United States include the ProShares Bitcoin Strategy ETF (BITO) and the Bitwise Crypto Industry Innovators ETF (BITQ), both of which are listed on the NYSE Arca.

Edited by Guillermo Jimenez

Editor's Note: This article was originally published in October 2021 to track the status of Bitcoin ETF applications and was last updated on January 11, 2024 to highlight active Bitcoin ETFs following SEC approval.