uploads///Comparision of SP Index with the ARKW Fund

The Latest on Bitcoin Markets and the S&P 500

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Outperforming the market

Among top ETFs tracking Bitcoin’s performance is the ARK Web x.0 ETF (ARKW) (ARKK). As shown in the chart below, this fund has steadily seen its price rise. Whereas it was trading at $48.70 on January 9, 2018, it had fallen from a high of ~$50.50 on December 18, 2017.

In comparison, the S&P 500 (SPX-INDEX) (SPY), has risen ~11.% over the past four months, while ARKW has risen 20.5%. It was one of the top performing funds in 2017 and outperformed the market.

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No Bitcoin ETFs

According to CoinDesk, major market names Direxion Shares ETF Trust, Exchange Listed Funds Trust, and ProShares Trust all filed to create ETFs that would track Bitcoin futures prices. However, they have withdrawn their filings, citing feedback from the SEC (Securities and Exchange Commission).

Additionally, US company Kodak (KODK) has announced that it will launch its own cryptocurrency. The ICO (initial coin offering) will likely take place by the end of January. With the news, Kodak stock rose ~37%. Whereas the company is famous for its photography products, it is now showing interest in technology.

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