Mentioned:
MSTR -6.80% RIOT -10.23%
Spot Bitcoin ETFs have dominated major stock exchanges in America since they launched. Now, there’s a new wave of Bitcoin related ETFs coming next.
What’s happening:
- Multiple large asset management companies in the United States of America have recently applied for new types of Bitcoin ETFs with the United States Securities and Exchange Commission
Who is making moves:
- Vivek Ramaswamy backed Strive Asset Management has just recently filed for a Bitcoin Bond ETF, which is aiming to purchase convertible bonds in companies who are raising capital for the sole purpose of buying Bitcoin
- Bitwise has just filed for a new ETF that is aiming to provide exposure to publicly listed companies who hold 1,000 Bitcoin or more directly as an asset
Why it matters:
- Publicly listed companies buying Bitcoin has become a mega trend in the traditional public markets, with companies such as MicroStrategy (NASDAQ: MSTR) and Riot Platforms (NASDAQ: RIOT) pouring hundreds of millions of dollars into new purchases of Bitcoin
Going deeper:
- Other types of digital asset ETFs beyond Bitcoin have been ramping up as well amidst a more friendly regulatory atmosphere for crypto in the United States, including formal applications for spot Solana and spot Ripple ETFs
