Reddit Posts
Bitwise's BITB Emerges as Top Performer Among 2023 ETF Launches
📊 Bitcoin ETF Update: Surges, Shifts, and What They Mean - A SmashFi Insight
Net Inflows Recorded for Bitcoin Spot ETFs in First Two Trading Days
Amid a red day, here is some positive data after day 1 trading of BTC ETFs
Bitcoin ETFs with expense ratios and AUM.
All 11 bitcoin ETF tickers, for tomorrow. GLTA!!!
Are you guys buying bitcoin ETFs?
JUST IN: Bitwise to donate 10% of their spot #Bitcoin ETF profits to open-source Bitcoin development.
Mentions
100% converted and haven’t regretted or looked back. BITB or IBIT are the two I’d consider.
I bought 700 more shares of BITB the last two days, so I don't disagree. But this metric seems outdated, is more so my point. This is an institutional asset now.
I but bitcoin using my IRA and the BITB ETF that tracks bitcoin.
tldr; U.S. spot Bitcoin ETFs recorded their largest single-day outflow of $938 million on February 25, 2025, amid Bitcoin's price drop below $87,000. Major funds like Fidelity's FBTC, BlackRock's IBIT, and Bitwise's BITB saw significant withdrawals. February has been a challenging month for Bitcoin ETFs, with over $3 billion in outflows, reflecting reduced institutional demand for BTC due to macroeconomic factors and market conditions. Only a few ETFs, such as Ark Invest’s ARKB, avoided outflows during this period. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
All of my IRAs are 100% BTC ETFs…50% FBTC and 50% BITB
Crypto exchange accounts and custodial wallets do not have beneficiary options, so they will be lost when you die. If you're too lazy to do your research, just stick it in an ETF and stay the hell away from crypto wallets until you know what you're doing. **Set your beneficiaries**. That way when you die, your kids can inherit it. Ticker symbols BITB and ETHW.
If you want to hold Bitcoin ETF, Bitwise Is the way to go. Not only they donate part of their profit for Bitcoin development, they are the only ones to publish proof of reserves. I hold BITB in my Roth IRA.
Nice. I bought my son 10 shares of BITB in his custodial account around the time of the etf launches. Hopefully when he has ownership of the account, he understands and values what it means.
GBTC expense ratio is absurd. I hold FBTC and BITB.
I buy BITB, but I want more exposure to the crypto market. I look at buying BTC like buying the magnificent 7 stocks. It's still good, but I want more of the market
Personally I would only invest in an ETF if that’s my only choice (eg in a 401k), but everyone has different priorities. In terms of the best ETF, I like BITB (Bitwise) because they show proof of reserves and the ongoing fee is among the lowest.
If you’ve got an IRA or Roth, buy IBIT, FBTC, BITB, HODL or any of the other spot ETFs. Then go to Hope.com and put in 40 hours of study until you can answer your own question. Good luck.
Too many motherfuckers sleeping on BITB with its transparency publishing addresses. If all the rest do it, it won’t be as much of a discriminator, but this is a good one for that reason.
I currently hold BITB and FBTC in my Roth IRA and plan to transfer to a Roth at Unchained Capital at some point. There you can hold your own keys and real BTC. If the government decides to fuck with Roth IRA, I feel that’s a good position to be in. I can’t take the risk to transfer at this point in the bull run tho.
In a 13F filing today, Goldman Sachs disclosed the following positions as of September 30: $461 million IBIT (12,769,510 shares, an 83% increase from the previous filing in August) $95.5 million FBTC (1,720,291 shares, a 13% increase from the previous filing ) $71.8 million GBTC (1,423,069 shares, a 116% increase from the previous filing) $59.7 million BTCO (940,443 shares, unchanged from the previous filing) $22.5 million BITB (650,961 shares, a 156% increase from the previous filing) There are also several smaller BTC ETF positions in today’s filing. Note: This 13F filing covers all of Goldman Sachs, not just the internal asset management business. The discretion designation on all the above positions is Goldman Sachs & Co. LLC. Filing: https://www.sec.gov/edgar/search/#/q=Bitcoin&dateRange=custom&category=custom&entityName=Goldman%2520Sachs&startdt=2024-11-14&enddt=2024-11-14&forms=13F-HR Source: https://twitter.com/macroscope17/status/1857207080282673430?s=46&t=ihVglVXC0BQSbw6j57EoaA
IBIT or BITB in your Roth IRA is the way to go
The only danger is you lose it. It does make sense to diversify that risk where you can. I have too many funds in IRAs, so I have about 2/3rd of my bitcoin in ETFs (will probably switch that to a collab custody BTC IRA at some point). The best is almost all in singlesig+pass cold storage with a tiny bit on RH at the moment. I also split risk in the ETFs by owning BITB and FBTC as they custody differently and BITB proves reserves.
tldr; US Bitcoin ETFs experienced a record single-day inflow of $870 million, coinciding with Bitcoin's rise above $73,000, marking a 7% weekly gain. BlackRock’s IBIT led with $643 million in net inflows, its largest since March. The surge in ETF trading volume, reaching $3.3 billion, was attributed to a 'FOMO-ing frenzy.' Other Bitcoin ETFs like Fidelity’s FBTC and Bitwise’s BITB also saw significant inflows. US spot Bitcoin ETFs are on track to surpass Satoshi Nakamoto's holdings by year-end, accumulating around 17,000 BTC weekly. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
I view BTC as part of my savings. I have my emergency fund in dollars and credit for if I lost my job or had a sudden large expense. My modest savings beyond that gets converted into BTC, gold, and silver, roughly 2:1:1. For retirement accounts, I take my employer's 401k matching and max my Roth IRA. In those accounts, I take a Boglehead-ish approach, being in low cost broad market indices. I have like 10% of my Roth in BITB, essentially taking up the space that would be a bond fund in a normal 3 fund portfolio. So I'm not all in, but I like to think I'm well diversified with a position that matches my conviction.
To add about transparency, Bitwise disclosed their addresses so that you can verify. Unsure if any others have done the same. Here are some of the Bitcoin addresses for the Bitwise Bitcoin ETF (BITB): bc1qln25agtjg2vn7yd2mn59wpsyrgx42d4qcpv4cz, bc1qqejsnwmxswr3dpv6yuktjx7224wjt9yjng383c, bc1qezsndnzeuxwaraeplr8dm30ml7gpgnm22xc0d8, bc1q9txxn6le0es4xr2nhdv6j49syrx6fcdjm887xj, bc1qkz6eqcul7l6kwjyyqhgueuj0e54yrplugkrm6a, bc1qhhkef8vm8qfz6096v08hmfypwvly8p3azz755, bc1qgd2htxfflv32s9523esxh6cuenf80rjp38qtly, bc1qky4xywjl59d9ge83pjdhqs7ge83pjdhqs7ge83pjdhqs7ge83pjdhqs7ge83pjdhqs7ge83p, bc1qf49cjsv7ajqmhj92zjzm4ynzsjj49usp20282au, and bc1qlelqht9v90pkrev5w85lzdwvg8fluulqwsu30w
If this is a concern buy the Bitwise ETF (BITB). They show proof of reserves and it has a good fee structure.
I want to agree with your sentiment because the ETF issuers are regulated entities with a long teach record ... The history of Crypto exchanges is a history fraught with costodial theft and loss ... so ... I actually split my in IRA ETF purchases three ways between HODL, BTC, and BITB (with some MSTR stock added on for good measure) because each was using a different costodian at the time of issuance. They were also among those with the lowest fee structure. Is it diversity over kill? Almost certainly! But I figure that if one of them did have a scandal with lost or stolen coins that tanks the value of the ETF before I can trade out of it, at least I will still have 2/3rds of my investment intact.
tldr; Spot Bitcoin ETFs ended their longest negative outflow streak as Bitcoin's price soared to over $58,000. This marked the first positive inflow in two weeks, with a total of $28.6 million entering the ETFs, led by Fidelity’s FBTC, BITB, and ARKB. The inflows coincided with a significant price recovery for Bitcoin, which had previously fallen below $53,000. The positive change in ETF inflows and Bitcoin's price rise highlights the correlation between the two. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
tldr; U.S.-listed spot Bitcoin ETFs experienced a significant outflow of $287.8 million in a single day, marking the largest daily outflow in four months. This event occurred amidst concerns over economic growth and a sell-off in Nvidia, affecting market sentiment. Fidelity's FBTC led the outflows, followed by Grayscale's GBTC, BITB, and ARK. The outflow coincided with a drop in Bitcoin's price and broader market concerns following disappointing U.S. manufacturing data. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Also BITB. They disclose their wallet addresses.
> So here we are at $60K+, and I wonder if there’s anyone here who bought under $10K and is still buying. Most of my purchases are from 2015. I've bought twice since then, in 2020 and I bought GBTC in my 401k in 2023 and converted it to BITB once the ETF was approved. The reason I don't buy more is because I'm extremely all-in as it is.
tldr; BlackRock's IBIT significantly contributed to the surge in Bitcoin ETFs with a $92.7 million inflow, bringing its total to $20.48 billion. This marks the largest net inflow since August 8, with Fidelity also experiencing a modest gain. However, not all Bitcoin ETFs saw positive movements, with Bitwise’s BITB and Galaxy Invesco’s BTCO facing outflows. Meanwhile, Ethereum ETFs struggled, facing a net outflow of $13.5 million, with Grayscale’s ETHE being the most affected. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Woahh!! That’s awesome. I’m looking into this now. Might switch from FBTC to BITB. Thanks!
BITB donates 10% of profits back to the Bitcoin ecosystem.
I wrote under .3%. Most BTC ETFs are under 0.3% this is correct. A few are above, but that's your own choice I guess. * **ARK 21Shares Bitcoin ETF (ARKB)** * Expense Ratio: 0.21% * Fee Waiver: No fees for the first 6 months or first $1 billion of inflows * **Bitwise Bitcoin ETF (BITB)** * Expense Ratio: 0.20% * Fee Waiver: No fees for the first 6 months or first $5 billion of inflows * **Blackrock iShares Bitcoin Trust (IBIT)** * Expense Ratio: 0.25% * Fee Waiver: 0.12% for the first 6 months or first $5 billion of inflows * **Franklin Bitcoin ETF (EZBC)** * Expense Ratio: 0.19% * Fee Waiver: No fees for the first $10 billion of inflows * **Fidelity Wise Origin Bitcoin Trust (FBTC)** * Expense Ratio: 0.39% * **Grayscale Bitcoin Trust (GBTC)** * Expense Ratio: 1.50% * **Hashdex Bitcoin ETF (DEFI)** * Expense Ratio: 0.90% * **Invesco Galaxy Bitcoin ETF (BTCO)** * Expense Ratio: 0.39% * Fee Waiver: No fees for the first 6 months or first $5 billion of inflows * **VanEck Bitcoin Trust (HODL)** * Expense Ratio: 0.21% * **Valkyrie Bitcoin Fund (BRRR)** * Expense Ratio: 0.49% * **WisdomTree Bitcoin Fund (BTCW)** * Expense Ratio: 0.30%
Put it in all in my Merrill account (instant transfer from BoA). Was going to do 1/3 BITX, 1/3 BITB, 1/3 MSTR, but Merrill didn’t support bitcoin ETFs, so I dumped it all into MSTR. Up $50k in a day, but obviously if I had closed a week earlier I’d be up $250-300k. C’est la vie.
Unless you are buying 6 figures or more, it doesn't really matter between IBIT, BITB, and FBTC. And even then it's small differences. I chose BITB as they donate to bitcoin development.
Bitwise (BITB) widely regarded as the most friendly to the bitcoin infrastructure
tldr; 11 spot Bitcoin ETFs in the US experienced their third consecutive day of positive inflows, totaling $216.33 million on Tuesday. BlackRock's IBIT led with $121.03 million, followed by Fidelity's FBTC with $90.95 million. Ark Invest and 21Shares' ARKB, and VanEck's bitcoin fund also saw inflows, while Grayscale's GBTC and Bitwise's BITB reported outflows. This marks a growing investor interest in Bitcoin amidst market volatility. Since January, these ETFs have seen $15.27 billion in net inflows. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
I guess simplicity and price. If you already have a Fidelity account, much easier to buy BITB and be done than create a new address each time to withdraw to. Also, in all likelihood the fees will be cheaper than the exchange rate plus cost to withdraw. You are also insured up to $500,000 per account if the broker goes down so you could hold that much in multiple brokerage accounts so you don't have to worry about hiding seed phrases etc. Still have to worry about the ETFs custodians though so maybe it balances out. But for ease and simplicity, it is just much easier. This is all, provided, you are only doing it as an investment as my post stipulates.
tldr; US spot Bitcoin exchange-traded funds (ETFs) have seen a positive shift with total net inflows of $31.01 million, marking the end of a negative trend. Fidelity's FBTC ETF and Bitwise's BITB ETF experienced significant inflows, indicating a potential change in investor sentiment towards Bitcoin ETFs. This resurgence could signal renewed interest and optimism in the cryptocurrency market, potentially leading to greater stability and growth for Bitcoin ETFs. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
BITB lists their BTC addresses right on the front page of their website. Others should follow suit.
I've spread myself amongst three ETFs - BITB, IBIT, and FBTC. The three have reasonable fees and I like how they manage things very differently. FBTC self-custodies, BITB has been in this space for a long time and they are solely focused on crypto, IBIT is just large as hell and well known.
I prefer BITB. Promote and fund BTC development and their BTC addresses are public so you can literally see how much they claim to have.
Bitwise (BITB) is the only answer as a bitcoiner as they donate 10% of their profits to fund Bitcoin development through non-profits
For the US ETFs, fees vary, most use Coinbase for custody but a few don't, I'd carefully read the prospectus and find what their policy would be in case of a fork. Oh, and only BITB published their bitcoin address, although the coins moved since then.
I picked BITB because it had the lowest fee when the ETFs came out and still is only 0.01 higher than Franklin
Came across this. \[As of 4 months ago only BITB has made it's public address known.\](https://www.reddit.com/r/FidelityCrypto/comments/1ajqcwy/comment/kp3vnpy/?utm\_source=share&utm\_medium=web3x&utm\_name=web3xcss&utm\_term=1&utm\_content=share\_button\])
Bitwise ETF (BITB) list their addresses publicly as seen here. https://bitbetf.com/ Hypothetically it should be the easiest thing ever to audit. Auditor would just need the public address of the ETF wallets. Hopefully someone can chime in with the specifics though.
Another reason to prefer Bitwise's BITB over other Bitcoin ETFs. They're crypto natives and know what they're doing. I wish Blackrock and Fidelity would publish their own addresses, though that's probably expecting too much since they don't custody themselves.
Just wanted to thank you for BITB. You're the group I trusted the most among all the Bitcoin ETF providers (being crypto natives), and I'll also be recommending you for the Ethereum ETF once that's approved.
Renaissance Tech discloses owning multiple Bitcoin ETF’s via their 13F disclosure (couple millions worth): •ARKB, BITB, GBTC, BTCO, BTM, FBTC RT is one of the largest hedge funds in the world, founded by the late Jim Simons. No fees for the ETFs ends in June for most, July for Fidelity 👀 https://www.sec.gov/Archives/edgar/data/1037389/000103738924000072/xslForm13F_X02/renaissance13Fq12024_holding.xml
"JPMorgan disclosed investments totaling $731,246 in BlackRock's iShares Bitcoin Trust (IBIT), Bitwise's Bitcoin ETF (BITB), Fidelity's Wise Origin Bitcoin Fund (FBTC), and Grayscale Bitcoin Trust (GBTC), with the majority, $477,425, in IBIT." This is a nothing story. Clicking links within the article led to other nothing stories. It does make me concerned when I see delerious reporting, and makes me ask who is pushing this narrative.
$6 trillion US Fintech/Asset Manager Envestnet has $55m in Bitcoin ETF holdings: FBTC: $37.5m, ARKB: $3.6m, IBIT: $2.7m, GBTC $9.5m, BITB: $1.7m https://www.sec.gov/Archives/edgar/data/1407543/000121465924008856/xslForm13F_X02/infotable.xml
America's largest bank JPMorgan Chase discloses spot Bitcoin ETF holdings in new SEC filing Not sure of values but I see IBIT, FBTC, BITB Actions always speak louder https://twitter.com/bitcoinmagazine/status/1789020004131737624?s=46&t=ihVglVXC0BQSbw6j57EoaA
easy. i have money saved in my Traditional and Roth IRA since I started working. I dont want to take withdraw it because of 10% penalty and taxes, probably around 30-40% if I did. I sold a bunch of other stocks and bought BITB when it became available.
Bitcoin ETF ticker names: ……………….. BTC - Bitcoin AKRB - Ark invest 21shares Bitcoin ETF BITB - Bitwise Bitcoin Trust ETF FBTC - Fidelity Wise Origin Bitcoin ETF FDIG - Fidelity Crypto Industry Digital Payments ETF GBTC - Greyscale Bitcoin Trust ETF IBIT - Blackrock iShares Bitcoin Trust ETF HODL - Vaneck Bitcoin Trust ETF BTCW - WisdomTree Bitcoin Trust ETF EZBC - Franklin Bitcoin ETF BRRR - valkyre Bitcoin Trust ETF DEFI - Hashdex Bitcoin Futures ETF BTCO - InvestCo Galaxy Bitcoin ETF
Just curious, why FBTC over the other BTC ETF’s like BITB or IBIT?
BITB publishes their public address to prove they have Bitcoin, and they donate to developers, and have a low fee https://www.nasdaq.com/articles/bitwise-becomes-first-u.s.-spot-bitcoin-etf-to-disclose-btc-holding-addresses#:~:text=Announcement%3A%20Today%20the%20Bitwise%20Bitcoin,flows%20directly%20on%20the%20blockchain.&text=%22Now%20anyone%20can%20verify%20BITB's,%2C%22%20the%20asset%20manager%20stated. Best option is to get a Blockstream Jade, Bitcoin 02, or Coldcard and self custody bitcoin. No fees, 24/7 access, globally portable, cannot be frozen.
Just trying to figure out where it's going is the thing. Need 10 shares each of BRRR, BITO, IBIT, BITB, FBTC, GBTC, BTCO stat :) 66k wouldn't hurt my feelings again. We still got a week or so, people can get scared
Bitwise donates 10% to developers, started with the lowest fees (which some others have copied), and shares their public address to be as transparent as possible. It’s called BITB https://bitbetf.com/
Its usually better for everyone if people don't support the largest most evil corporation in a given industry. Sadly most people bandwagon onto an inferior product because of brand recognition. FBIT - Self custody of Bitcoin BITB - Has a lower fee and donates a percentage of profits to support the open-source development of Bitcoin. There are others that are materially better then IBIT as well.
IBIT, FBTC, BITB, or ARB are all solid. I honestly have all 4 in my retirement accounts. F Blackrock but they do have the liquidity and are biggest. I like fidelity, ark, bit wise because they’ve all been in the bitcoin game since like 2015.
IBIT for liquidity, FBTC for experience, BITB for transparency (published their address so you can verify holdings)
First of all, have her open her a brokerage designated as a ROTH IRA immediately. You can do $7000 for 2024. Everything in here will be tax free earnings. Inside spread it between BITB, IBIT, & FBTC. Who cares if you buy it at all time high prices, this won’t likely be touched until she is old. Next if it were me, I would buy another 1 minimum coin ($67k) where you control the private keys & keep it on a ledger. Lastly, I would use the rest of the money as a down payment on a house/condo in a city that is not as expensive as the one you are in & that is zoned for short term rentals. Running an Airbnb on the side is very lucrative & nice income supplement. Use profits from that and keep purchasing more bitcoin DCA. If you don’t want to do the rental, dump it into ETFs split between QQQ or VOO.
Note that both of the ETF's you listed are futures BTC funds vs the eleven spot ETF's: ARK 21Shares Bitcoin ETF (ARKB) 0.21% Bitwise Bitcoin ETF (BITB) 0.20% Fidelity Wise Origin Bitcoin Trust (FBTC) 0.25% Franklin Bitcoin ETF (EZBC) 0.19% Grayscale Bitcoin Trust (GBTC) 1.50% Hashdex Bitcoin ETF (DEFI) 0.90% Invesco Galaxy Bitcoin ETF (BTCO) 0.25% iShares Bitcoin Trust (IBIT) 0.25% Valkyrie Bitcoin Fund (BRRR) 0.25% VanEck Bitcoin Trust (HODL) 0.25% WisdomTree Bitcoin Fund (BTCW) 0.25%
No problem man , and although self custody is where I keep the majority of my bitcoin , if you have any available allotments in any tax free savings accounts buying the ETFs will allow you to make gains tax free. However you won’t hold the physical bitcoin. As far as the ETFs go , Bitwise donates 10 % of proceeds to the Bitcoin open source development teams. Ticker BITB Vaneck’s HODL is free from fees for the next 6 months.
Is it possible to transfer Bitcoin from BITB to a cold wallet?
This is why BITB will forever have my business. I loved their transparency.
They made a strategic decision. The management fee used to be 2%, which is very high, but it was a trust at that point, and one of hr only ways to gain Bitcoin exposure. Now they have converted to an ETF, and are competing with other ETFs from Fidelity and BlackRock etc. Who have much lower fees, many are offering 0% for the first year and then switching to 0.35% ongoing. So grayscale can probably see the profit levels of their customers. They probably know when the bitcoin was brought into their fund, or purchased, and they can see that majority of their customers are going to have to pay the high tax bill for capital gains. Now grayscale wants to continue collecting that high management fee, but they chose to reduce it a little bit to 1.5% in order to incent some of their users to stay. If there wasn’t a capital gains consequence to be considered, probably every single owner would switch to the cheaper ETFs. What they have chosen is to keep charging a high fee betting that many people will stay in the fund. Note that they are also introducing a mini bitcoin trust that will have lower fees and be an option for some people to switch to, although I believe they will still incur capital gains to do so. It’s going to just be directly competitive with the other ETFs. Long story short, they are maximizing their management fees, but I doubt anyone would choose to buy into this fund when there are much better options in terms of management fees. Some ETFs are showing the address for their bitcoin wallet as proof of funds BITB from Bitwise was the first to do this https://cointelegraph.com/news/bitwise-address-bitcoin-etf-holdings Fidelity has created their own wallet solution instead of using Coinbase, which is great as well.
I converted some stocks into BITB. I actually love the ETFs. If you're bullish BTC and already have a self custody bag it's a no brainer to get some in a Roth IRA.
This. I actually sold my existing BITB Etf fot FBTC because Fidelity actually has custody of their own BTC
You’ll do better holding actual bitcoin because of the ETF fee. $100,000 in bitcoin if price stays the same will be worth $100,000 in 20 years (no fee) $100,000 in IBIT (.25% fee) will be worth $95,117 if price stays the same. As the price goes up over time the gap gets much larger. Also BITB (.20% fee) is a little better on fee.
BITB with save you 5 basis points
GBTC stands for grayscale bitcoin trust. It was created before the ETFs were approved. It has always carried a very high management fee, starting at 2% and now being dropped to 1.5%. By comparison, some of the ETFs are offering a 0% management fee for the first year, and many are settling at 0.25%. Many people are choosing to sell their GBTC shares to then re-buy BITB, IBTC, HODL, FBTC, ARKB and others. One thing that is holding some of them back, is that they will have to realize a capital gain on their GBTC shares, that is if they are selling for a higher amount than what they paid, they will have to pay capital gains tax if the shares were not held in a tax deferred account such as a 401(k), HSA, Roth, or Roth IRA. Grayscale had to make a difficult decision when choosing their management fee. If they lowered it to match the new competitors, very a few people would exit, but they would be making a lot less money. If they kept it very high at 2%, it could be assumed that a large number of people would leave. It looks like they chose to keep the fee fairly high, while lowering it enough to deter some customers from leaving because of their capital gains expenses. What we have been seeing here is an outflow from GTC, some of that profit needing to go towards paying taxes, and hypothetically a majority of that money coming back into one of the new ETFs with a lower management fee. Hopefully some of these people are even choosing to buy bitcoin and self custody it to avoid management fees and expenses entirely. For anyone who is considering this path, please consider Sean, Kraken, and Strike. Grayscale also announced on March 12th that they are creating a “Mini Bitcoin Trust” that will charge lower management fees. The details of this trust have not been released, but the goal may be to keep some of the exiting clients as customers of this new fund that will trade under the ticker BTC, instead of having them go to the competing ETFs. Here is a news article with more details on that: https://news.bitcoin.com/grayscale-aims-to-launch-mini-bitcoin-trust-for-lower-fees-and-tax-benefits/ For anyone who is content on purchasing a bitcoin ETF instead of bitcoin directly, consider the bitwise ETF with ticker symbol BITB because they have published the digital wallet address showing all of the bitcoin that they custody. Here is an article with further details https://www.theblock.co/post/274359/bitwise-publishes-digital-wallet-addresses-with-bitcoin-holdings-for-spot-etf
There’s also BTF and BITB I added both to my Roth IRA
Anyone holding IBIT should switch to BITB, they contribute 10% of their profits from their ETF to bitcoin development.
I always find these arguments to be odd. I don’t know anybody who holds more than an emergency stash of just plain dollars. People own stonks, people own houses, people have HYSAs… but who just holds dollars? Sure I hold BTC over dollars, but that’s almost a straw man argument. Nobody holds $70k cash on them like they hold a BTC. ~wholecoin club, homeowner, has stonks and BITB in retirement accounts, never has more than 10K just sitting in cash.
Any thoughts on bitcoin ETF and miner ETFs? FBTC and BITB allow diversification of custodians and BITB donate 10% of profits to developers. Any thoughts on miner ETF? e.g. WGMI or FDIG?
I bought BITB first and then when I decided to move all of my Roth into bitcoin ETFs I bought FBTC. No real reason because I believe they have the exact same expense ratio. I think my rationale was that BITB uses coinbase as its custodian and Fidelity’s FBTC uses self custody. Perhaps there’s some sort of risk mitigation there but probably not.
All you gotta do is open a brokerage account at a firm like E*Trade or Fidelity (or any other) and buy one of the Bitcoin ETFs. IBIT, BITB, HODL, FBTC are a few ticker symbols just to name a few. Then you buy it like any other stock.
BITB returns 10% profits to the BTC foundation on open source improvements etc which I think is great but yea I think it's cool they hodl it themselves
Given my holdings are in tax sheltered account, i would be fine if liquidated provided at ~ the value of bitcoin. But for those that don't want to get hit with capital gains, i believe acquisition by BITB or other ETF would be better.
If bitcoin gets to $100k, IBIT (Blackrock ETF) is sold at ~$52.85 and BITB (Bitwise ETF) is sold at ~$50.61. It is to demonstrate that there is no "$100k" barrier for the ETF-investors. Each of the ETFs and bitcoin itself has separate barriers which will make the resistance spread instead of concentrating on a single number.
>$100k in IBIT is ~$52.85 while $100k in BITB is ~$50.61. Dumb question, but what does that mean?
Do note that if ETFs keep gaining traction the barriers get obfuscated. $100k in IBIT is ~$52.85 while $100k in BITB is ~$50.61. When IBIT is having resistance at $100, BITB is without resistance at $95.76. We'd still have the resistance, but it would get spread out over larger range instead of round numbers.
BITB should be the etf of choice for this sub They are donating 10% of profits towards bitcoin developers
Interesting thread. I’m mid 60’s. Didn’t get Orange pilled until 2021. First buy at $64k in ‘21…a smash buy. Weekly DCA and HODL since then with a large smash buy at $19k with my 2022 SEP IRA funds. Over last three months, have converted my brokerage accounts to 80% BTC proxies - MSTR, COIN, HUT, RIOT, MARA and my largest holding…BITB. Total allocation now at 50%. Risky, but I’m a believer. I lost everything in the ‘08-‘09 debacle. BTC will allow me to make up for decades of lost savings after the ‘09 real estate losses.
Do you buy ETFs as well? I am looking at BITO, IBIT and BITB?
In your shoes I would do 50% BITB + 50% MSTR.
I like BITB. Cheap expense ratio, and they seem like they know Bitcoin & have a good reputation.
There are many Bitcoin ETFs to choose from, BITB has one of the lowest fees and most trusted due to having their holding Bitcoin address public. If you want to buy self custody “real” Bitcoin, you can use Kraken/Coinbase to make the purchase then transfer it to your own hardware wallet.
Happy either way. My DCA over the last 3 years is in a good spot. I'd love a nice run up for my roth IRA that I converted to some BITB but I'm I'm it for the long haul. We still early.
Anybody have a good case for a particular ETF? (in an IRA) So far I've bought FBTC and BITB. Have some funds left. May split between these two or buy a third
Failed. Converted the rest of my IRA to FBTX and BITB
I use BITB for most of these reasons but know that the net expense ratio of 0.0 is only temporary.