Physically backed Bitcoin ETFs, like Bitwise Bitcoin ETF, are safer than any other ETFs due to their unique accounting system, Core Scientific founder Darin Feinstein believes.
While bitcoin's price is often denominated against fiat currencies, Wood pointed out that even relative to gold, BTC has risen consistently since its early days.
Bitcoin and gold have recorded strong performance in 2023 amid geopolitical uncertainties and rising interest rates.
Over $100 billion is now stashed in gold ETFs that trade in the U.S., the world's largest capital market. Will bitcoin ETFs grow to this size?
Bitcoin retail investors may end up with a hot potato if the spot ETF go-ahead plays out like gold 20 years ago, analysis considers.