Market Wrap Year-End Review: Bitcoin ETF Rally Proved Short-Lived, and $100K Dreams Faded

Hi, Market Wrap readers! During the final two weeks of 2021, we’re using this space to recap the year’s most dramatic moments in cryptocurrency markets – and highlight key lessons from this fast-evolving corner of global finance. Over a series of eight posts that started on Dec. 20 and ends today, we recapped what shook crypto markets this year.

Lurking behind those hopes was the belief that many investors in traditional markets wanted to bet on bitcoin but lacked the technological setup or know-how to do so; an ETF would let them buy into bitcoin with the ease of buying a stock in an online brokerage account.denied multiple times under former SEC Chairman Jay Clayton

“I think his comments are pretty clear that a pure spot bitcoin ETF isn’t coming soon and that futures products would potentially be considered,” Steven McClurg, chief investment officer for Valkyrie, told CoinDesk at the time. And on Oct. 19, the ProShares Bitcoin Strategy exchange-traded fund , the first bitcoin futures-related ETF to trade in the U.S.,The New York Stock Exchange on Tuesday as the ProShares Bitcoin Strategy ETF started trading. that much of the volume on BITO’s first trading day appeared to come from retail investors, because there were few large “block” trades of the size that big institutional traders often deal in.

Crypto bulls weren’t done yet. In the days following BITO’s trading debut, bitcoin continued upward to hit an all-time price high of around $69,000. Several alternative cryptocurrencies joined the rally. Ether, the second-largest cryptocurrency by market capitalization, rose above $4,000 for the first time since mid-May.

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ProShares files for ETF that tracks companies focused on the metaverseProShares, which debuted a bitcoin futures-tied exchanged-traded fund earlier this year, wants to list an ETF that tracks companies working on metaverse-themed initiatives. '.;. . BULLISH! 🤩 mtn/btc 🚀🚀🚀🚀🚀🚀🚀🚀🚀medical_chain Huobi Gateio 🐳🐳🐳🐳🐳🐳🐳
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