If You Invested $1,000 In Bitcoin When The First Bitcoin ETF Was Filed, Here's How Much You'd Have Today (And Did You Beat Tesla, Apple?)
Portfolio Pulse from Chris Katje
Investors are optimistic about the approval of Bitcoin ETFs, which has helped push Bitcoin's price over $31,000. A federal court has directed the SEC to review Grayscale Investments' application to convert its Grayscale Bitcoin Trust into an ETF, which could expedite the approval of several Bitcoin ETFs filed by BlackRock, WisdomTree, Invesco, Valkyrie Investments, Ark Invest, VanEck, and Fidelity. A $1,000 investment in Bitcoin when the first ETF was filed would be worth $375,065.32 today, outperforming investments in the SPDR S&P 500 ETF Trust, Tesla, and Apple over the same period.
October 24, 2023 | 8:46 pm
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NEGATIVE IMPACT
A $1,000 investment in Apple would be worth $11,96.97 today, underperforming a similar investment in Bitcoin.
The news compares the performance of Apple to Bitcoin, showing that it has underperformed.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
A $1,000 investment in the SPDR S&P 500 ETF Trust would be worth $2,618.69 today, underperforming a similar investment in Bitcoin.
The news compares the performance of the SPDR S&P 500 ETF Trust to Bitcoin, showing that it has underperformed.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
A $1,000 investment in Tesla would be worth $29,914.03 today, underperforming a similar investment in Bitcoin.
The news compares the performance of Tesla to Bitcoin, showing that it has underperformed.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
BlackRock has filed for a Bitcoin ETF, which could be expedited by the SEC's review of Grayscale's application.
The news mentions BlackRock's filing for a Bitcoin ETF. If approved, this could increase demand for BlackRock's products.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Bitcoin's price has been boosted by optimism about the approval of Bitcoin ETFs. If ETFs are approved, this could further increase Bitcoin's price.
The news directly relates to Bitcoin and the potential approval of Bitcoin ETFs, which could increase demand for Bitcoin and therefore its price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Grayscale Investments' application to convert its Grayscale Bitcoin Trust into an ETF is being reviewed by the SEC, which could expedite the approval of several Bitcoin ETFs.
The news directly relates to Grayscale and its application to convert its Bitcoin Trust into an ETF. If approved, this could increase demand for the trust.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
WisdomTree has filed for a Bitcoin ETF, which could be expedited by the SEC's review of Grayscale's application.
The news mentions WisdomTree's filing for a Bitcoin ETF. If approved, this could increase demand for WisdomTree's products.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80