This Bitcoin Investment Could Give Crypto Investors a Double-Win
Cryptocurrency markets have been volatile in recent years, with the crypto winter crushing Bitcoin (CRYPTO: BTC) and many of its digital asset peers in 2022. However, Bitcoin has bounced back with a vengeance, and crypto investors are now pouring back into the market to take advantage of what they hope will be a sustained rebound in prices in the sector.
Part of what's fueling speculation about a long-term rise for Bitcoin is the prospect for the U.S. Securities and Exchange Commission to approve an exchange-traded fund that owns Bitcoin directly. Such a fund could have advantages over the current futures-based ETFs that are currently available.
But there's actually a fund that exists currently that owns spot Bitcoin. Grayscale Bitcoin Trust (OTC: GBTC) has been around for years, and although it hasn't gotten regulatory approval from the SEC to be a true ETF, investors are increasingly optimistic that it could do so in the near future. If that happens, then early investors could actually get an unexpected double win.
Source Fool.com