FBTC: My Preferred Vessel For The Ride To $100k+ Bitcoin

As of article submission, Bitcoin (BTC-USD) has printed a fresh all time high of $87,000 per coin. Having rallied nearly 30% in a matter of just a few days, a $100,000 per coin Bitcoin price seems as though it's only a 'matter of when' rather than

Bitcoin (BTC-USD) continues its historic rally, printing a fresh all time high of $87,000 per coin on Monday.

Having rallied nearly 30% in a matter of just a few days, a $100,000 per coin Bitcoin price seems as though it's only a 'matter of when' rather than 'if' at this point.

While the flagship cryptocurrency has certainly been the star of the show in 2023, a number of Bitcoin-related exchange traded funds have also posted impressive gains. One ETF in particular, the Fidelity Bitcoin ETF (FBTC), has outperformed the underlying asset itself year-to-date.

FBTC, which launched in April and tracks the performance of the Fidelity Bitcoin Index, has surged nearly 40% in 2023, outpacing Bitcoin's own 30% gain. The ETF, which is designed to provide investors with exposure to the price movements of Bitcoin, is backed by physical holdings of the cryptocurrency.

Now, I'm not suggesting that anyone should blindly chase performance or attempt to time the market. However, I do believe that FBTC is an interesting ETF that deserves a closer look for investors seeking exposure to Bitcoin. Here's why I like FBTC for the ride to $100k+ Bitcoin.

FBTC: A Closer Look At Fidelity's Bitcoin ETF

FBTC is the first and only Bitcoin ETF to be approved by the SEC. The ETF, which is managed by Fidelity, tracks the performance of the Fidelity Bitcoin Index. The index is designed to measure the performance of a single asset, Bitcoin.

FBTC is listed on the NYSE Arca exchange and trades under the ticker symbol "FBTC." The ETF has an expense ratio of 0.40%.

FBTC provides investors with a convenient and cost-effective way to gain exposure to the price movements of Bitcoin. The ETF is backed by physical holdings of the cryptocurrency, which are stored in a secure vault.

FBTC is a good option for investors who are bullish on Bitcoin and want to participate in the potential upside of the cryptocurrency without having to purchase and store the digital asset themselves.

Why FBTC For The Ride To $100k+ Bitcoin?

As mentioned earlier, Bitcoin is currently trading at all time highs and seems poised to continue rallying towards the highly anticipated $100,000 price point.

While there are certainly a number of ways for investors to gain exposure to Bitcoin, I believe that FBTC is one of the best options available. Here are a few reasons why I prefer FBTC for the ride to $100k+ Bitcoin.

FBTC is a physically-backed ETF, meaning that it is backed by actual holdings of Bitcoin. This provides investors with a direct and transparent way to participate in the performance of the cryptocurrency.

FBTC is highly liquid, trading on the NYSE Arca exchange. This ensures that investors can easily buy and sell the ETF at any time during the trading day.

FBTC is a cost-effective way to gain exposure to Bitcoin, with an expense ratio of just 0.40%. This compares favorably to other Bitcoin ETFs and makes FBTC a more attractive option for long-term investors.

Overall, I believe that FBTC is an excellent ETF for investors who are bullish on Bitcoin and want to participate in the potential upside of the cryptocurrency without having to purchase and store the digital asset themselves.