Dear readers, one of the most recent additions to the investment markets is Cryptocurrency ETFs and they have had their developments just earlier this year.
As shared by Mr Tan Jun Sen, Equities Specialist in Phillip Investor Centre, in PhillipCapital’s video below, the US Securities and Exchange Commission (SEC) approved 11 new Spot Bitcoin ETFs on 10 Jan 24. Following this approval, Bitcoin’s price surged by almost 57% over 63 days to a high of US $73,000. And also as shared by Jun Sen, 8 Spot Ethereum ETFs were approved by SEC in May 24.
These developments, could in part lead to some bullishness in the overall Bitcoin market. For example, iShares Bitcoin Trust almost 60% since Jan 24 according to the video below.
Is this the time to get into the Cryptocurrency ETFs?
Or are investors too late to the game as they could be catching a falling knife if they enter now?
Or is the rallying still sustainable?
I only appreciate the blockchain nature of Cryptocurrencies and know nothing about the Cryptocurrency markets.
For those who want a stake or investment in Cryptocurrencies, there are 3 ways of investment: Spot Crytocurrency ETFs, Futures Bitcoin ETFS and Direct Bitcoin Ownership. Do watch the video below to find out more, if you are interested.