Grayscale Launches Hashdex Leading Bitcoin ETF;  Bitcoin waves

Grayscale Launches Hashdex Leading Bitcoin ETF; Bitcoin waves

The Gray Bitcoin Trust (GBTC) and the Hashdex Bitcoin ETF (DEFI) rose on Thursday shortly after trading began. The rest of the 11 spot bitcoin ETFs will go live after the Securities and Exchange Commission formally approves a wave of applications later Wednesday. Bitcoin rose to $49,000 on Thursday morning.




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Hashdex, in association with Tidal Investments, has been approved to convert the Hashdex Bitcoin Futures ETF into a spot bitcoin fund. Meanwhile, Grayscale Investments has received approval to convert its $27 billion bitcoin trust into a spot ETF. Both trade on the NYSE Arca under their previous tickers.

Issuers ARK Invest (ARKK) and 21Shares, Fidelity, Franklin Templeton, VanEck, WisdomTree and Invesco and Galaxy Digital list six bitcoin ETFs on the Chicago Board Options Exchange. BlackRock‘s (BLK) iShares Bitcoin Trust and Valkyrie’s Valkyrie Bitcoin Fund will trade on the Nasdaq. Bitwise will join Hashdex and Grayscale Investments on NYSE Arca.

Elsewhere, Charles Schwab ( SCHW ) announced early Thursday that it will make ETFs available for trading on its platform, a public relations representative told IBD.

Issuers disclosed their planned fees for ETFs in their updated regulatory filings on Jan. 9 and 10, which range from 0.2% to 1.5%, excluding waivers. The table below includes ticker, fee and exchange information for each of the bitcoin ETFs that went on sale today.

Bitcoin ETF Fees Offered as of January 10 (Source: Bloomberg)
name Ticker Issuer Payment (after opting out) Disclaimer details exchange
ARK shares 21 Bitcoin ETFs ARKB ARK Invest & 21Shares 0% (0.21%) 6 months or $1 billion CBOE
Bitwise Bitcoin ETP Trust BITB Bitwise 0% (0.20%) 6 months or $1 billion NYSE
Fidelity Wise Origin Bitcoin Trust FBTC Loyalty 0% (0.25%) Until July 31, 2024 CBOE
Franklin Bitcoin ETF BC Franklin 0.29% no CBOE
Grayscale Bitcoin Trust (conversion) GBTC Gray color 1.50% no NYSE
Hashdex Bitcoin ETF DEFI Hashdex 0.90% no NYSE
Invesco Galaxy Bitcoin ETF BTCO Invesco and Galaxy 0% (0.39%) 6 months or 5 billion dollars CBOE
iShares Bitcoin Trust It will go BlackRock 0.12% (0.25%) 12 months or $5 billion Nasdaq
Valkyrie Bitcoin Fund BRRR Valkyrie 0% (0.49%) 3 months Nasdaq
VanEck Bitcoin Trust HODL VanEck 0.25% no CBOE
WisdomTree Bitcoin Trust BTCW WisdomTree 0% (0.3%) 6 months or $1 billion CBOE

Bitcoin ETF Price Action

Gray Bitcoin Trust (GBTC) rose nearly 2% early Thursday after a 4.2% premarket jump. GBTC gained 3.8% on Wednesday following the SEC’s announcement.

Hashdex’s Bitcoin ETF ( DEFI ) rose 4.6% Thursday morning. DEFI shares have been trading above the profit-taking zone since the crash in late October.

Premarket price data was not available for all bitcoin ETFs prior to the sale.

Crypto exchange Coinbase (COIN) fell 3% on Thursday after a 4.3% premarket gain. Meanwhile, bitcoin miner Digital Marathon ( MARA ) fell 7% to erase a 6.3% rally in the morning.

Bitcoin fell to $46,600 on Thursday after reaching $49,000 – the highest price since December 2021. Bitcoin was trading at around $45,700 on Wednesday afternoon, shortly after the SEC’s announcement. The reversal is not surprising, as some experts, such as ARK Invest CEO Cathie Wood, expect some gains from the ETF news.

You can follow Harrison Miller on X/Twitter for more stock news and updates @IBD_Harrison

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