Do You Want To Hop On To The Crypto Bandwagon?

There is a certain amount of mystery and curiosity about Bitcoin, more so because the New York Stock Exchange has now introduced a Bitcoin-linked ETF. With an increasing number of investors looking at crypto currency with interest, it is time to take a deeper look and understand this new game

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Crypto currency is no doubt at the top of your mind given the media buzz that has surrounded it in recentimes. October 2021 marked a milestone for investors around the world. On October 19, crypto currency hit the New York Stock Exchange with the introduction of a new Bitcoin-linked fund. This new exchange-traded fund (ETF) is offered by ProShares and is the first of its kind anywhere in the world. The best part is that within two days of its launch, it reached assets of USD 1 billion. According to Bloomberg it has been the quickest ETF to touch this AUM.

A New Asset Class

If we look at the history of asset classes, there hardly has been any asset class created in the last 100 years. It has been the same old equity, debt, commodity, currency and real estate and art for some high-net-worth individuals that have been in existence for years. Nonetheless, the introduction of ETF based on Bitcoin has added a new asset class for investors even though Bitcoin, a crypto currency, is not a new phenomenon. It has been there for around 12 years, starting in the year 2009. However, the launch of the ETF has given it institutional backing and credence as an asset class.