Investors’ interest in Bitcoin has risen commensurate with its price. Quickly chasing that sentiment is Wall Street, with a legion of products meant to satisfy investor demand. We’ve explored the problems with futures-based exchange-traded funds like ProShares Bitcoin Strategy ETF BITO, but the industry’s largest Bitcoin-adjacent product faces issues of its own. Grayscale Bitcoin Trust GBTC carries a whopping 2.00% price tag and, more notably, can sometimes fail to precisely track the price of Bitcoin because of its limitations as a trust. Both of these factors have led to large differences between the returns of the trust and the returns of Bitcoin itself.Grayscale Bitcoin Trust: First-Mover AdvantageGrayscale Bitcoin Trust launched in September 2013 with the goal of providing investors access to Bitcoin in a man… Full Story

Despite tumult in the markets, U.S. exchange-traded funds notched another solid month of inflows in September 2021. Investors poured $55 billion into ETFs last month. ETFs have absorbed $647 billion through the first three quarters of 2021, and the $499 billion net flow record set in 2020 continues to drift further into the rearview.After a tremendous run to start the year, global stock markets stumbled in September. The Morningstar Global Markets Index--a broad gauge of global equities--slid 3.96% last month. That snapped a seven-month streak of positive returns and marked the benchmark's worst monthly performance since the coronavirus-induced sell-off in March 2020. Bonds fared a bit better but still finished in the red for the second consecutive month. After declining 0.96% in September, the Morningstar US Core Bond Index has … Full Story