The first Bitcoin ETF
Back in 2015, there was a big buzz in the financial world because something major was going down. This thing is called the Bitcoin Investment Trust. This was basically the first-ever Bitcoin Exchange Traded Fund (ETF) was getting launched. ETFs are like these baskets that hold assets (usually stocks or bonds). They trade on exchanges just like stocks do. But this was the first time someone decided to create one for Bitcoin. That was a great milestone in the world of cryptocurrency in 2015.
Before this ETF came along, Bitcoin was already making its play in the World market. BTC was popular already in that time as a digital currency having features of not being controlled by the government or banks. It was gaining popularity among folks who were into tech and finance at that time. People were buying and selling Bitcoin on various online platforms. Thus value of BTC was going up and down like a roller coaster. Some saw it as the future of money. Many watching on BTC thought it was a bubble waiting to burst. Then came the Bitcoin Investment Trust (BIT).
This wasn't a traditional ETF where you could trade directly on the stock exchange, but it was structured in a way that allowed investors to get exposure to Bitcoin's price movements without actually owning the cryptocurrency itself. Instead of buying Bitcoin directly, investors could buy shares of the trust, and each share represented a certain amount of Bitcoin. In the next post, I shall share some significance of the event in 2015. Thanks.
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Nice article from you, ordinarily I didn't know about the 2015 Bitcoin ETF as am only seeing it that of this year but with this article I have been made privy to this. Thanks for sharing really appreciate.
bitcoin investment trust is something that I am hearing first time and this is what we can learn from the history. Thanks for the knowledgable article