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Bitcoin ETF Trade Spurs Bitcoin To All Time High Levels: How To Invest In Them?
Millennials have been an excited lot entering this uncharted world of crypto and top their frenzy now Bitcoin ETFs have even been allowed to trade. And as the trading in the first ETF backed by Bitcoin kicked off, bitcoin prices hit a new all time high price of $66,974 per token.
Notably the first Bitcoin futures ETF-have started trading on the New York Stock Exchange so how does we sitting in India can invest in them. Here is in brief on how to go about investment in Bitcoin ETF.
Now in the current regime, engaging in trade in such an investment avenue shall not be possible through Indian brokerage account and like you invest in foreign stocks through specific platforms for them, you would be able to buy bitcoin ETFs through similar portals.
What are Bitcoin ETFs and why is the first traded ETF futures based?
An exchange-traded fund is an investment that tracks an underlying asset class for its price and other features. Herein the bitcoin ETF shall track the price of bitcoin futures traded on the Chicago Mercantile Exchange, rather than bitcoin itself. Notably, here the underlying shall not be the real bitcoin but bitcoin futures trading independently on regulated U.S. exchanges such as CME.
How bitcoin ETFs are a better proposition?
The ETF route in cryptos is highly being appreciated for the investor base it shall be able to bring owing to the safety pertaining to the security as well as storage of the asset class.
Further being backed by the stock exchanges such as the New York Stock Exchange as well as the SEC, investors' interest in the instrument shall be manifold given the seen momentum it has imparted to crypto Bitcoin in just 1 day of trade on the exchange.
"The introduction of Bitcoin ETF will enable a lot of people to start investing through traditional investment channels. For Indians who are looking to invest can look to buy this ETF through brokers soon as they should launch it in near future and see a massive demand," Udupa- Co-Founder of Scenes by Avalon is quoted in a leading business daily.
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