It finally happened. 11 providers,were finally approved by the SEC. This marks a major milestone in Bitcoin and crypto adoption in general.
With this many providers to choose from, which one should the average investor use? That decision will largely depend on each investor’s unique circumstance. Instead of going through the individual providers, we decided to share with you some factors to consider to help you decide:
◦ Background – a number of these companies are well known investment firms while the rest are native crypto firms.
◦ Stability – how long has the company been in operation? Is it’s business diversified if there is a change in the market?
◦ Research – some have been in Bitcoin for a while while some are new entrants. Before you write off the new ones, do a check on their research as this can compensate for their lack of experience.
◦ Price – stable companies with more research will usually charge a premium for their overhead and brand. Those lacking these will entice investors with near zero fees at least in the short term.
◦ Promotions – Some of these companies are offering promotional rates. I would say this should be the least important factor to consider compared to the rest.
Note that in this environment with many players, it is highly likely that consolidation will happen in the future. Unless there is bankruptcy involved, you should be safe if this happens.
These Bitcoin ETF gives easy access and exposure to Bitcoin to the average person.
For others who are a bit more tech savvy and adventurous, you can try skipping all that including the fees and just buy Bitcoin and other crypto like Cardano on the open market. You will still need to pay for the transaction costs that your exchange will charge you but this is usually at a lower cost.
We hope this article has shed light on the new Spot Bitcoin ETF Providers to help you make a more informed decision.
In other news, we continue to support educational charities with our latest donation to Children’s Wishing Well:
WISH Pool is the creator of Cardano SPOT Check, an online resource for Cardano Stake Pool Operators for maintaining their nodes (http://SPOTCheck.Blockchainlens.Org). We were a recipient of the IOG delegation in 2021 and the Cardanoh Foundation delegation in 2022. If you like this article, we greatly appreciate if you will delegate your ADA to WISH Pool. You will be earning interest rewards while helping the lives of disadvantaged children. This is because we pledge to give at least 10% of our own profit to educational charities so that successful students can help get their families out of poverty. Let’s help grow the community together!
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