๐ค๐ป Celebrate Approval of Bitcoin ETF With Free ๐ค
USDT On Binance
Institutional investors may benefit from the approval of spot bitcoin (BTC) exchange-traded funds (ETFs) as these products will allow them to trade a proxy with low management fees and engage more actively in arbitrage strategies and options hedging, Goldman Sachs (GS) said in a report.
Spot bitcoin ETFs were finally approved in the U.S. on Wednesday, a decade after they were first proposed, in a move that dramatically widens access to the world's largest cryptocurrency.
These groundbreaking products will begin trading today.
Other benefits include "investor protection afforded by ETFs, better liquidity compared to BTC access via private funds, given the ability to trade in and out; lower tracking error in comparison to close-ended funds and trusts, ETF vehicle leverages on standard accounting and reporting processes in context of portfolio management," the report said.
The bank said investors will also get exposure to
BTC without having to assume the risks associated with self-custody, adding that the involvement of household ETF providers such as Blackrock (BLK) and Fidelity lends "experience and credibility in managing these vehicles."
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