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Encouraging Signs Mount for Bitcoin
Good timing often helps some new exchange traded funds. And that was expected to be the case for the 10 recently launched spot bitcoin ETFs, including the Invesco Galaxy Bitcoin ETF (BTCO). BTCO and friends were expected to be beneficiaries of pent-up demand. The reality is the debut of spot bitcoin ETFs proved to be a “buy the rumor, sell the news” event. As highlighted by a strong showing Monday, the selling appears to be ebbing. And with Monday’s rally, the digital currency is now in the green on a year-to-date basis. Obviously, that’s constructive for ETFs such as BTCO. But the good news for investors is ... (full story)