If You Invested $1,000 In Bitcoin When The First Bitcoin ETF Was Filed, Here's How Much You'd Have Today
Portfolio Pulse from Chris Katje
The SEC approved applications for spot Bitcoin ETFs, including Grayscale Bitcoin Trust (GBTC) and others. The approval follows a court ruling against the SEC, directing it to review Grayscale's application. The article compares a $1,000 investment in Bitcoin from July 1, 2013, to its value today, highlighting a hypothetical return of over 52,000%. It also compares returns from investments in SPY, Tesla, and Apple over the same period, with Bitcoin outperforming all.
January 10, 2024 | 11:11 pm
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POSITIVE IMPACT
BlackRock Inc's (BLK) iShares Bitcoin Trust is among the approved Bitcoin ETFs, which may enhance its product offerings and attract more investors.
The approval of BlackRock's iShares Bitcoin Trust by the SEC could lead to increased demand for BLK's ETF products, as investors looking for exposure to Bitcoin through traditional investment vehicles may turn to this new offering.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Grayscale Bitcoin Trust (GBTC) is set to convert into an ETF following SEC approval, which could increase investor interest and liquidity.
The SEC's approval of Grayscale's application to convert GBTC into an ETF is a significant milestone, likely to attract more investors due to the increased legitimacy and ease of investment, potentially driving up its price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
The SPDR S&P 500 ETF Trust (SPY) is used as a benchmark in the article, showing a 256.8% gain over 10 years, less than Bitcoin's returns.
While SPY is mentioned as a comparison benchmark for investment returns against Bitcoin, the approval of Bitcoin ETFs does not directly impact SPY's performance. However, it may influence investor sentiment regarding asset allocation.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50