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What is a bitcoin ETF tracker and how does it work?

avatarCurranOCNov 27, 2021 · 3 years ago1 answers

Can you explain what a bitcoin ETF tracker is and how it functions in the cryptocurrency market?

What is a bitcoin ETF tracker and how does it work?
Bitcoin
ETF
Tracker

1 answers

  • avatarNov 27, 2021 · 3 years ago
    A bitcoin ETF tracker is a financial product that tracks the price of bitcoin. It is designed to provide investors with a way to invest in bitcoin without actually owning the cryptocurrency. The tracker works by holding a portfolio of bitcoin or bitcoin futures contracts. Its value is directly linked to the price of bitcoin, so if the price of bitcoin goes up, the value of the tracker will also increase. Conversely, if the price of bitcoin goes down, the value of the tracker will decrease. Investors can buy and sell shares of the tracker on an exchange, making it a convenient and accessible way to invest in bitcoin. BYDFi, a leading digital asset exchange, offers a bitcoin ETF tracker that allows investors to easily gain exposure to the price movements of bitcoin.

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