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re: SEC Approves Bitcoin Spot ETFs to List on Major Exchanges

Posted on 1/11/24 at 6:49 am to
Posted by slackster
Houston
Member since Mar 2009
84760 posts
Posted on 1/11/24 at 6:49 am to
quote:

If you guys figure out a mutual fund to buy in a 401k that's mutual funds only, please let us know. I want in asap.


Your company isn’t going to add a bitcoin mutual fund option anytime soon. That’s just the way it’s going to be for a while.

They probably don’t have any commodity or currency funds in your 401k, despite a much longer history on those funds.
Posted by FLObserver
Jacksonville
Member since Nov 2005
14445 posts
Posted on 1/11/24 at 6:54 am to
quote:

Fidelity (FBTC)

Does that start trading today? I believe the blackrock (IBIT) is today.
Posted by I Love Bama
Alabama
Member since Nov 2007
37700 posts
Posted on 1/11/24 at 7:01 am to
They are all trading today.

Whatever you do, don't give blackrock any more power. Jesus.
Posted by FLObserver
Jacksonville
Member since Nov 2005
14445 posts
Posted on 1/11/24 at 7:13 am to
FBTC it is then.
Posted by finchmeister08
Member since Mar 2011
35602 posts
Posted on 1/11/24 at 7:21 am to
quote:

I like the Fidelity (FBTC)


HELL YEAH!!! FREE BAY-BEE!!!


Posted by JohnnyKilroy
Cajun Navy Vice Admiral
Member since Oct 2012
35291 posts
Posted on 1/11/24 at 7:39 am to
quote:

Your company isn’t going to add a bitcoin mutual fund option anytime soon. That’s just the way it’s going to be for a while. They probably don’t have any commodity or currency funds in your 401k, despite a much longer history on those funds.


Man I love my sdb option.

Posted by finchmeister08
Member since Mar 2011
35602 posts
Posted on 1/11/24 at 8:01 am to
what's the price of FBTC supposed to be?
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
80766 posts
Posted on 1/11/24 at 8:33 am to
quote:

Your company isn’t going to add a bitcoin mutual fund option anytime soon.
My company has our 401K through Fidelity and we have the ability to do self directed through BrokerageLink
Posted by finchmeister08
Member since Mar 2011
35602 posts
Posted on 1/11/24 at 8:33 am to
just bought 38 shares


that's all i had in my ROTH.

$50 a month over the last 3-4 years invested in nothing until now
Posted by FLObserver
Jacksonville
Member since Nov 2005
14445 posts
Posted on 1/11/24 at 8:35 am to
Finally got to buy a few shares at around noon for around 40.00.
This post was edited on 1/11/24 at 11:01 am
Posted by Pezzo
Member since Aug 2020
1937 posts
Posted on 1/11/24 at 9:01 am to
there is 11 ETF available

supposedly only grayscale (GBTC) will hold bitcoin

GBTC - Grayscale Bitcoin Trust (NYSE Arca)
BITB - Bitwise Bitcoin ETF (Cboe BZX)
ARKB - Ark 21 Shares Bitcoin ETF (Cboe BZX)
FBTC - Fidelity Wise Origin Bitcoin Fund (NASDAQ)
IBIT - iShares Bitcoin Trust (Cboe BZX)
HODL - VanEck Bitcoin Trust (Cboe BZX)
EZBC - Franklin Bitcoin ETF (Cboe BZX)
BTCW - WisdomTree Bitcoin Fund (Cboe BZX)
BTCO - Investco Galaxy Bitcoin ETF (Cboe BZX)
BRRR - Valkyrie Bitcoin Fund (NASDAQ)
DEFI - Hasdex Bitcoin ETF (NYSE Arca)
This post was edited on 1/11/24 at 9:08 am
Posted by UnluckyTiger
Member since Sep 2003
35760 posts
Posted on 1/11/24 at 9:03 am to
I think BTC retraces back to 7-10k and that’s when I’ll strike again. (This is not financial advice)
Posted by I Love Bama
Alabama
Member since Nov 2007
37700 posts
Posted on 1/11/24 at 9:03 am to
What? Bro they all hold bitcoin. That’s the entire purpose of all this.
Posted by Odinson
Asgard
Member since Apr 2014
2751 posts
Posted on 1/11/24 at 9:03 am to
I’m holding ibit in a retirement account now lol
Posted by Pezzo
Member since Aug 2020
1937 posts
Posted on 1/11/24 at 9:09 am to
they'll use an exchange as custodian (coinbase, gemini, etc)
Posted by I Love Bama
Alabama
Member since Nov 2007
37700 posts
Posted on 1/11/24 at 9:25 am to
Ah I misunderstood. Gotcha.

Posted by jmorr34
Baton Rouge
Member since Sep 2004
2877 posts
Posted on 1/11/24 at 9:53 am to
quote:

I like the Fidelity (FBTC) the best for the simple reason that they are holding the Bitcoin themselves. Their fees are competitive with the rest


What is the difference between Fidelity Advantage Bitcoin ETF and Fidelity Wise Origin Bitcoin Fund?
Posted by slackster
Houston
Member since Mar 2009
84760 posts
Posted on 1/11/24 at 10:34 am to
quote:

My company has our 401K through Fidelity and we have the ability to do self directed through BrokerageLink


Yeah that’s a completely different animal. Self directed brokerage accounts within a 401k don’t put the fiduciary responsibility on the plan sponsors.

We can have a discussion whether or not their is a fiduciary responsibility to allow participants exposure to BTC, but considering commodity, precious metals, and currency funds are exceptionally rare in 401ks, I don’t believe you’ll see BTC anytime soon either.
Posted by tenderfoot tigah
Red Stick
Member since Sep 2004
10388 posts
Posted on 1/11/24 at 10:51 am to
Lame. That's the info I was looking for. Thx.

I already have nice crypto exposure, but I see the future here and it's Bitcoin up big in a few years.
Posted by Chorizo chang
Statesboro
Member since Feb 2022
299 posts
Posted on 1/11/24 at 11:09 am to
quote:

I think BTC retraces back to 7-10k


Is this a troll if so, salute
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