While cheered emphatically by the crypto community, the bitcoin ETF’s simplicity hides many drawbacks, especially for long-term investors unfamiliar with the inner workings of the futures market and the rocky results of historical ETF launches.

The First Crypto’s Saga Continues as Accessibility Broadens

With the first Proshares bitcoin exchange-traded fund (ETF) with ticker BITO opening for trading on October 19th, investors with brokerage accounts can finally access the cryptocurrency just like they can any other stock or ETF available.

For bitcoin aficionados, the SEC’s announcement catalyzed a positive change in the market, as the price of BTC hit an all-time high above $66,000 amid heightened CME futures and options activity. Likewise, crypto experts believe that with the launch of the bitcoin ETF, bitcoin as an investment option will be more widely accessible and that bitcoin’s recognition will grow.

According to Ben Caselin, AAX’s head of research and strategy:

Over the long term, the approval will change…

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Source: https://news.bitcoin.com/bitcoin-etf-may-feel-good-for-btc-enthusiasts-but-adoption-may-not-advance-in-kind/