Icandelo lokuTyala iMali
Kwiintsuku zokuqala ze-bitcoin, abaninzi banokubamba i-cryptocurrency ngokunikezela ngamandla okusebenzisa iikhompyutha ekuncedeni inkxaso kunye nokukhusela inethiwekhi engundoqo. Njengoko iimayini zaba nzima kakhulu kwaye zincinci kakhulu kwiindleko zabo, abo bafuna ukufumana iBitcoin baqalisa ukurhweba ngokutshintshela imali yemali njengamaDola ase-US.
Ukuwa kwe-2014 kwintengiso yokuqala iMat. I-Gox ithumele ukutshitshiswa kulo lonke ishishini kunye nabanyanzelisi abaphoqeleleneyo ekubhekiseleleni ekukhuselekeni, iindlela ezininzi ezixhaswe ziziko lokufikelela kwidijithali. Kananjalo, i-Bitstamp, i-CoinBase, ne-Bitfinex sele ivele kwaye yakhonze abathengi kakuhle kwi-3 kunye neminyaka edluleyo.
Ngoku, njengoko abatyali-mali okanye bonke ubungakanani befuna ukufaka isikhala, iindlela ezikhuselekileyo zokutshintshisiswa kwemali yedijithali kunye needola zabadlali abaninzi bemali ziye zavela. Zomibini ukunyuka kwentengo kunye nokunyanzeliswa kokubamba ingqalelo kwimidiya, kunye nokufuna ukwazi ukutshala imali kwi-bitcoin, imali edibeneyo yedijithali eninzi ababeyivile ngayo ekuqaleni kuka-2013 (phakathi kokunyuka kwexabiso lokuqala kunye neSalk Road scandal).
Iintengiso zeTrans Exchange, okanye "ze-ETF", ziyimoto yeempahla ezithengisa ngemini kwiimarike ezinkulu xa zicaphula intengo ekupheleni kosuku okanye ixesha. Olu shishino lwentengiso ngokutshintshiselana, okwenza ukuba bonke abatyali-mali bakwazi, kuquka abo bane-akhawunti yokuthengisa i-brokerage ukuba bafumane ufikelelo lwe-bitcoin.
Ezi zinto zingenawo umbane wokungabikho komthetho, ukweba, ukunqunqwa, kunye neengxelo ezimbi kunye nokukhusela okufunyenwe ekuqaleni kwe-bitcoin kunye neenkampani.
GBTC
Abatyalomali abakhangela ukutyalomali kwi-bitcoin kwiimarike ezinkulu bangakwazi ukufumana utyalo-mali ngeGreycale ye-Bitcoin Investment Trust, eqhuba ngoku i-OTCQX njenge-GBTC.
Utyalo-mali lokuhlawula i-Greyscale lunikeza ubuninzi beenzuzo kubalimi-mali ukuba bancede benze ithemba lokutshala imali kwi-Bitcoin ngokukhawuleza. Ngesinye, izabelo ze-GBTC zifanelekile ukuba zigcinwe kwi-IRA ethile, i-Roth IRA, kunye nezinye i-akhawunti ze-brokerage kunye ne-akhawunti-mali-mali, ngokuvumela ukufikelela okulula kubo bonke abatyale-mali kwii-akhawunti ezahlukeneyo.
Abatyalomali banikezwa utyalo-mali olunikeza ukufikelela kwixabiso elingaphantsi kwe-1/10 lexabiso le-bitcoin. Ngoko ukuba inani le-bitcoin li-$ 1000, isabelo ngasinye se-GBTC kufuneka sibe nexabiso lexabiso lexabiso le-$ 100. Le xabiso ayikho ngaphandle kweendleko, njengoko i-GBTC igcina i-2 yeepesenti intlawulo echaphazela ixabiso eliphantsi. Enyanisweni, abatyali-mali bahlawula ukhuseleko, kulula ukusetyenziswa kunye nokuthengwa kwempahla. Ngethuba lokushicilela, i-GBTC ingxowa yaba ne-164.21M eyi-$ ngaphantsi kolawulo.
Ngokuhlela iindlela zokugcina ezizinzileyo kunye nokulondoloza i-bitcoins ngokwabo, i-GBTC ivumela abatyale-mali ukuba bangabikho kwezobuchwepheshe ukuba bafikelele ngokukhuselekileyo kwi-teknoloji entsha.
Ngenxa yokuba i-fund ithungisa kwiimarike ezinkulu, inokurhweba kwi-premium okanye isaphulelo kwixabiso layo lexabiso lempahla (NAV). Le ngxowa-mali ithengise kwi-premium kwi-NAV kwaye oku kubonakala kubonisa ukuba kunomdla onomdla kwi-bitcoin-Based based investment, njengoko okwangoku iyingqamle kwiimarike zotyalo-mali. Le ngxowa iyaqhubeka ikhula kwaye ithole inkxaso, njengoko iArKInvest LLC isanda kutyalo-mali kwi-GBTC, ibe yiqela lokuqala lolawulo lweengxowa-mali zoluntu ukutyalomali kwi-bitcoin.
Ukusebenza kwe-GBTC kuye kwaqineka, kubonelela ukubuyisela okunamandla kubathengi kuyo yonke imbali yayo. Isilinganisi istati phakathi kwexabiso elisezantsi le-bitcoin kwaye intengo ye-GBTC ibonisa i-premium ephawulekayo neyamangalisa ye-15-40 yeepesenti ngaphezu kwexabiso leBitcoin leyo i-fund ixabiso lentengo kwiimarike. Kwakhona, into yokuba i-GBTC inikezele ukubuyiswa okunzulu kwaye ibuye ithengise ixabiso lentlawulo ngokumalunga namaxabiso emakethe eB Bitcoin ibonisa inkxaso yezinga lemarike ekusetyenzisweni, ukutyala imali ethembekileyo eMelika ngokubhekiselele kwi-market yeBitcoin.
Ukususela ngo-GBTC ukuqaliswa ngo-Meyi 2015, i-fund iye yanikezela ukubuyiswa okuntle, njengoko i-down point point ukusuka kwi-1.5 kwiminyaka eyadlulayo yanika abamali-mali abasakhulayo kwi-GBTC ithuba lokufumana izabelo.
Ukuvunyelwa kwe-Bitcoin ETFs Kuhlala kungenakuqinisekiswa
Amawele eWinklevoss afakwe kwi-ETF ngoJulayi 2013, kwaye isalindele ukuvunyelwa yiSEKELO. Kwacatshangelwa ngexesha lokuba umnxibelelwano kunye negama eliyaziwayo liza kuxhasa inkxaso kunye nokukhawuleza kwesi siphakamiso ngendlela ekhawulezayo. Amagosa karhulumente, nangona kunjalo, athatha indlela ekhuselekileyo yokuvuma imvume yeBitcoin ETF. Ukukhathazeka malunga nokusetyenziswa okungekho mthethweni kwe-bitcoin kunye neengxakini malunga nokuphathwa kwemali yokulawulwa komdaka ojikelezayo ekunikeleni enye imoto yokutshala imali kwi-bitcoin. I-SolidX, iqela elibhalisiweyo le-S-1 elinikezela i-SolidX Bitcoin Trust, iphinde iphinde ihlaziywe kwaye i-SEC, emva kokubambezela isigqibo, iya kugqiba kwisimo sayo ngoMatshi 30, 2017.
Ingxelo yakutshanje kaCoinDesk kwi-Needham & Inkampani icacise ukuba iimali ze-ETF ze-bitcoin utsalo-mali zingama $ 300m, ziphantse zibe zimbini ukusuka kwii-GBTC zangoku, ukuba i-ETF ye-Winklevoss iya kuvunywa. ISebe leSibini liya kugqiba isigqibo sokuba okanye singavumelekanga i-ETF ye-Bitcoin ngoMatshi 11, ngo-2017, ngengxelo yeCoinDesk iqikelele ithuba lokufumana imvume ye-25%.
Ulawulo lweChina kwi "Bitconomy"
Njengoko iUnited States iqhubeka iwela emva kweChina ekutholeni kunye nokumbiwa kwemigodi ye-Bitcoin, ukuvuma i-ETF kuya kunceda ukukhawulezisa iinzame zokuzisa iMelika kwibala lokudlala. Kodwa, i-Bitcoins ngokwabo, ngokukodwa, ihlelwe njengepropati kwizigwebo zikaRhulumente. Umzekelo, zombini iMatshi ye-IRS yesigqibo se-IRS kunye ne-February 2016 yaseCalifornia yaseBallsonruptcy egwebayo ibhalwa njengepropati, kungekhona imali. I- IRS 'ngo-Ephreli 2014 isilawula ukuba ifune ukunika ingxelo ngeengeniso zentlawulo kwiinjongo zentengiso ye-bitcoin, nangona kunjalo, imiqondiso yokuba abalawuli bayakufanelekela i-asethi njengempahla. Ngenxa yokubaluleka kwezitshixo zangasese, i-bitcoin njengepropati ibonakala yenza ingqiqo yefilosofi.
Abaninzi baye bacacisa ukuba yintoni imiphumo yokuvunywa kweso shintshana kuya kuba neentengiso zeBitcoin. Ngamaphesenti angama-97 e-bitcoin eyaziwayo ezithengiswayo zisenzeka kwiintetho zakwaTshayina, ukunyuka okunamandla kulindeleke ukuba abatyali-mali baseMntla-Amerika bangene kwimarike. Ukuhla kwexabiso loJanuwari-10 kweye-11, ngo-2017, kuhambelana nokungazithembi phakathi kwamagosa aseTshayina malunga nemisebenzi ye-bitcoin exchanges, okwenza kubekho ukuphazamiseka okufutshane kwiimarike. Ngexesha lokubhalwa kwexabiso libuyele ku-784.
I-Present ne-Look Outward
Ukunikezelwa kwemali engapheliyo yokugqibela ye-bitcoins ezigidi ezingama-21 eziya kubakho, zidibaniswe namandla okumbasa okwenziwe ngeemigodi kwi-intanethi, i-Bitcoin ibonise amandla ayo okuhlala kwaye ifuna ukubonelela kwilizwe eliphuhlisayo ngeenkonzo zebhanki, ngeli xesha libona iB Bitcoin ukusetyenziswa kunye nokuphuhliswa kokuphunyezwa phakathi kwenkxaso yokubonelela, imali yokwenza imali, kunye neenkonzo zokuqaphela iinkcukacha.
I-ETF ihlala isinyathelo esibalulekileyo ekukhululeni inethiwekhi yotyalo-mali kwiBitcoin eMelika. Abatyalomali bahlala bexhala malunga neengozi ezinxulumene nemali yedijithali, i-market dominance evela kwiChina, kunye nokusetyenziswa okungavumelekanga. Njengoko utyalo-mali, nangona kunjalo, amathemba alo ahlala esomeleleyo kwaye azinzileyo. Umbonelelo ongokoqobo unikezelwa kumashishini angenakubalwa kunye namancinci amancinci ezama ukunciphisa iindleko zabo zokuhlawula.
I-GBTC, i-SolidX kunye ne-Winklevoss Investment Trust ingasungula isiseko somnye utshalomali lweMaliya eMelika. Ingakumbi ukuba izicelo ze-ETFX okanye i-Winklevoss ze-ETF zivunyiwe, utyalo olongezelelweyo lotyalo-mali oluvela kuma-investors aseMelika luya kulandela, olongezelela uxinzelelo olukhuselekileyo kwixabiso le-bitcoin.