Invesco Galaxy Bitcoin ETF

BTCO

Market cap $775M

Bitcoin (BTC-USD) and Silver (SLV) have sharply diverged, setting up a contrarian long BTC, short SLV pair trade opportunity. SLV's recent 150–200% rally appears late-cycle, with realized volatility now exceeding BTC and risk/reward skewed negatively. BTC is gaining regulatory clarity and technical support, while SLV faces risks from margin hikes and substitution at high prices.

Uncertainty about the economy will likely lead to Bitcoin price volatility.  Catalysts that have driven Bitcoin higher over the past several years have mostly played out.

About $161 billion. That's how much has been added to the global crypto market's aggregate market value between Saturday and Wednesday, rising from $3.17 trillion to $3.3 trillion, according to CoinGecko.

BTCO is a spot Bitcoin ETF with a 0.25% TER, liquid, and with externalized custody. It replicates the underlying BTC-USD well net of fees, with a linear performance relative to peers. I am looking with interest at the divergence that has formed relative to the performance of US equities.

Fred Thiel, chairman & CEO of MARA Holdings, says Bitcoin is shifting from speculation to strategic asset. Liquidity, energy, and geopolitics now drive price, while mining infrastructure becomes vital for AI and sovereign compute.

US spot Bitcoin exchange-traded funds recorded their largest daily net inflows in more than three months on Tuesday, signalling a renewed wave of institutional demand as investors move past year-end portfolio rebalancing and re-engage with digital assets. According to data from Farside Investors, spot Bitcoin ETFs attracted $753.

Buying and selling Bitcoin ETFs is a little different than buying and selling spot Bitcoin directly. While the Bitcoin exposure is the same, the tradability and cost factors of Bitcoin ETFs should be considered.

Stock futures were getting hit, but digital assets were higher—moving more like haven assets.

Bitcoin fell below the $90,000 level early Friday as cryptocurrencies struggled to sustain their recent momentum.

BlackRock's Larry Fink once believed Bitcoin was mainly used for nefarious purposes. Fink now sees a new reason investors turn to it: fear.