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Health, Wealth, and Happiness

January 24, 2024

“Invest for the long haul. Don’t get too greedy and don’t get too scared.”

- Shelby M.C. Davis

Howdy, investors!

• We've updated our guide to the best cryptocurrency ETFs to include some of the new spot bitcoin ETF products.

• Speaking of spot bitcoin ETFs... did the launch meet your expectations? With bitcoin down, it may have not. Coinmonks suggests a reason as to why this is the case.

• Roughly half of the $2 billion in outflows from Grayscale's Bitcoin Trust were due to the FTX estate liquidating its holdings. FTT, anyone?

• Ever wonder how and why Tether became the leading stablecoin? Coin Metrics has an answer to that question.

Read on to explore more!

Best Cryptocurrency ETFs for 2024

by Matthew Du

With the launch of bitcoin spot ETFs, we’re seeing renewed interest in bringing crypto into the mainstream. One of the ways that ordinary investors can buy into this new asset class is through a cryptocurrency ETF.

Crypto ETFs come in all flavors, from funds that hold only bitcoin to funds that hold diverse baskets of blockchain- and crypto-related companies.

Investors have compelling reasons to consider adding a crypto ETF to their portfolios. As an indicator of the sector’s potential, bitcoin continues to outperform gold, the S&P 500, the NASDAQ Composite, and many other asset classes over the long term:

Crypto ETFs provide investors with easy exposure to the crypto ecosystem without setting up and managing your own crypto wallets.

In this new guide, our editors have rated and reviewed the top cryptocurrency ETFs as an alternative investment opportunity in 2024.

Read on to learn about the best cryptocurrency ETFs >>

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New Blockchain Investor Scorecard: Filecoin (FIL)

The crypto faithful have hailed decentralized storage as the next big thing, but it's still a niche business. It's complicated by the SEC, which has called some digital assets like Filecoin (FIL) unregistered securities, leading us to wonder if FIL is still a good investment.

How it works: Filecoin is a decentralized network that enables users to rent and purchase digital storage space through a trusted and distributed system. FIL, its native token, is used for governance and as an incentive for network participants. It's a real technology with a real use case.

To help you better understand the potential (and potential risk) of FIL, we've just released our Blockchain Investor Scorecard for Filecoin. Premium Members can download it here.

Not yet a Premium member? Sign up now and get access to our monthly best buys, our exclusive crypto investing strategies, and our monthly BMJ token drops!

Must Read

Today's most important stories for crypto investors.

The Bitcoin ETF: The Great Hope That Disappointed? (Coinmonks)

Despite predictions of a significant market surge following the bitcoin spot ETF's approval, bitcoin's price actually dropped from $49k to as low as $40k. This piece speculates what's behind the drop. Our strategy doesn't change: HODL the GODL.

FTX Sold $1 Billion of GBTC, Explaining Part of Grayscale Outflows (Nasdaq)

This month, the Grayscale Bitcoin Trust's transformation into an ETF led to significant outflows of $2 billion, much of it attributed to FTX's bankruptcy estate offloading its entire stake of 22 million shares in the Trust. Even so, we HODL.

Tether’s Ascent: Breaking Down the Dominant Stablecoin's Growth (Coin Metrics)

The collapse of Silicon Valley Bank has led to a surge in USDT's use in smart contracts and DeFi applications, overtaking USDC in some key markets. With its increasing transparency and regulatory adherence, Tether should keep its dominant position and healthy yields when lending on various platforms.

Best Staking Rates

The best rates for DeFi staking this week.

Click here to see our current staking yields, updated weekly.

Investor's Guide to Layer-2s

Which Layer-2 tokens are the best bet?

An Open Letter to Gary Gensler

Education, not litigation.

The New Bitcoin ETFs: How to Invest in 2024

Meet the 11 new ETFs, and our research on each.

Gold ETFs vs. Bitcoin ETFs

+ what we can learn from history.

The Bitcoin ETF is Here!

Plus, our crypto trends for 2024.

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ETH is the next big thing. Again.

(Thanks to 9gag)

Bitcoin Market Journal is a daily newsletter that makes you a better crypto investor. It's created by John Hargrave, Steve Walters, Gerald Jackson, Anatol Antonovici, Matthew Du, Daniel Joel, and Preetam Kaushik.

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