Penyebab Bitcoin Makin Sepi Traksaksi

Summary

The speaker discusses the challenges of screening the crypto market, where previously many coins were viable, but now fewer than 10 remain. They then compare Bitcoin ETFs to direct crypto exchanges, explaining how ETFs allow institutional investors to gain exposure to Bitcoin more easily and securely. Through a comparison of transaction volumes, they highlight the growing importance of Bitcoin ETFs, especially those from firms like BlackRock and Fidelity, which see much higher volumes than exchanges like Binance or Coinbase. The speaker shares a personal preference for Bitcoin ETFs due to their convenience and asks for feedback on the best method for investing in Bitcoin.

Takeaways

• 😀 The speaker has noticed a significant reduction in the number of cryptocurrencies that meet their screening criteria, from 50-70 coins to just under 10.
• 😀 Bitcoin ETFs have become an attractive option for large fund managers who want exposure to Bitcoin without dealing with cryptocurrency exchanges.
• 😀 There are currently over 10 Bitcoin ETFs available, with similar charts because they all track the price of Bitcoin.
• 😀 Bitcoin ETFs allow fund managers to buy Bitcoin within the same ecosystem as the stock exchange, rather than transferring funds to cryptocurrency exchanges like Coinbase or Binance.
• 😀 Bitcoin ETFs have higher trading volumes compared to direct Bitcoin trades on exchanges. For example, BlackRock’s Bitcoin ETF has a daily transaction volume of $2.7 billion.
• 😀 In comparison, the daily trading volume for Bitcoin on Binance is only around $39 million, which is much lower than Bitcoin ETF transactions.
• 😀 Bitcoin ETFs allow easier and more secure transactions for large institutions, especially those that cannot directly engage with cryptocurrency exchanges due to legal or operational concerns.
• 😀 The speaker personally prefers buying Bitcoin through ETFs offered by U.S. brokers, like Interactive Brokers, as it allows for more efficient transactions without needing multiple accounts.
• 😀 The speaker invites feedback from more experienced traders about the practicalities of buying Bitcoin directly through exchanges or through ETFs via U.S. brokers.
• 😀 The speaker emphasizes ease of transaction, security, and efficiency as key factors when choosing between buying Bitcoin directly on exchanges or through Bitcoin ETFs.

Q & A

Why has the number of viable cryptocurrencies in the market decreased recently?

The number of viable cryptocurrencies has decreased because, after screening the market, the speaker found very few options that met their criteria. This suggests a market shift or a lower number of promising projects compared to previous times.

What is a Bitcoin ETF, and how does it differ from directly buying Bitcoin?

A Bitcoin ETF is an exchange-traded fund that allows investors to invest in Bitcoin without owning it directly. Instead of purchasing Bitcoin from an exchange, investors buy shares of the ETF, which holds Bitcoin. This offers a more regulated and convenient method for institutional investors to gain exposure to Bitcoin.

Why do large institutional investors prefer Bitcoin ETFs over direct trading on exchanges?

Institutional investors prefer Bitcoin ETFs because they offer a regulated and secure way to invest in Bitcoin without the complexities of managing wallets and dealing with potential risks associated with cryptocurrency exchanges.

What is the main advantage of using Bitcoin ETFs for fund managers?

The main advantage for fund managers is that Bitcoin ETFs allow them to include Bitcoin in their portfolios without the need to directly interact with cryptocurrency exchanges, making the process simpler and more aligned with traditional financial markets.

How many Bitcoin ETFs are currently available in the market?

There are at least 11 Bitcoin ETFs available in the market, each with slightly different characteristics, but all tracking the price of Bitcoin in a similar manner.

What is the daily transaction volume of some of the popular Bitcoin ETFs like IBIT and GBTC?

For example, the BlackRock Bitcoin ETF (IBIT) has a daily transaction volume of approximately 52 million ETF shares, equating to about 2.7 billion USD in value, while the Grayscale Bitcoin Trust (GBTC) has around 3.8 million ETF shares traded per day.

How does the daily transaction volume of Bitcoin ETFs compare to direct trading on exchanges like Binance and Coinbase?

The daily transaction volume on Bitcoin ETFs, especially for firms like BlackRock, is much higher than on exchanges like Binance and Coinbase. For instance, the daily volume on Binance is approximately 365 Bitcoin, with a value of about 39 million USD, while the BlackRock Bitcoin ETF sees transactions worth 2.7 billion USD daily.

Why are ETFs considered more secure than direct trading on cryptocurrency exchanges?

ETFs are considered more secure because they are regulated and offer investors a more established financial infrastructure, reducing the risks associated with security breaches or exchange failures commonly found in the crypto market.

What challenges do investors face when buying Bitcoin directly from exchanges?

Investors face several challenges, including managing wallets, ensuring security, and dealing with potential issues related to exchange reliability, such as transaction failures or sudden closures of platforms.

What is the speaker's personal preference when it comes to investing in Bitcoin, and why?

The speaker prefers to invest in Bitcoin through ETFs rather than directly buying Bitcoin on exchanges because it offers simplicity and efficiency. The speaker appreciates being able to trade Bitcoin alongside traditional stocks without managing multiple accounts on different platforms.