US46438F1012 - ETF
Is it time to swap Bitcoin for Solana? Here's what you need to know about these big crypto names and their long-term prospects.
There's no denying that Bitcoin (CRYPTO: BTC) is having a magnificent year in 2024. One key factor behind this year's rally was the launch of the new spot Bitcoin exchange-traded funds (ETFs) in January. The largest spot Bitcoin ETF, the iShares Bitcoin Trust (NASDAQ: IBIT), now has $53 billion in assets under management.
Paul Tudor Jones is among the investing greats. The 70-year-old is widely credited with predicting the stock market collapse on Black Monday in 1987 when the Dow Jones fell a whopping 22%. Jones' hedge fund, Tudor Investment Corp, has posted average annual returns of roughly 19% over its more than four-decade existence, according to Hedge Fund Alpha, and Jones is reportedly worth over $8 billion, according to Forbes.
The crypto market is notorious for its volatility, and the price of Bitcoin can gyrate wildly on a day-to-day basis. In a very short time, it has become the most popular way for investors to get exposure to Bitcoin and now ranks among the top 1% of all exchange-traded funds (ETFs) in terms of assets under management. What is the iShares Bitcoin Trust?
It's easy to understand why Nvidia (NASDAQ: NVDA) has become the favorite tech stock of many investors. Perhaps he's found another asset that might end up soaring higher than Nvidia over the long haul, and that's Bitcoin (CRYPTO: BTC). According to publicly available 13F filings, Englander sold off 1.6 million shares of Nvidia during the most recent quarter, resulting in a 12.5% reduction in his Nvidia position.
The exchange-traded fund (ETF) closely tracks the price of Bitcoin (CRYPTO: BTC), allowing investors to gain exposure to the cryptocurrency on major brokerage platforms without having to purchase it directly on a crypto exchange. Bitcoin has rallied big time in the wake of Donald Trump's election on Nov. 5, so this Bitcoin ETF followed suit. Although incoming President Trump lambasted Bitcoin and its legitimacy back when he was in office in 2019, he appeared to change his mind on the cryptocurrency earlier this year.
In fact, one crypto ETF tracks an investment of hers that Wood believes has more than 1,500% in potential upside over the next few years. When it comes to Bitcoin ETFs, the giant in the room is the iShares Bitcoin Trust ETF (NASDAQ: IBIT). The iShares Bitcoin Trust ETF does charge an expense ratio of 0.12%, but that's fairly low for ETFs in general.