CHAPTER 16

FX and Crypto Funds, ETFs and ETPs

Choosing a product

Opening question

“Should I buy bitcoin or a bitcoin ETF?”

In this chapter

Four routes to currency and crypto exposure: direct holdings, funds, exchange-traded products and derivatives
Currency funds and hedged share classes
How ETFs, ETNs and other ETPs differ in structure
Spot crypto ETPs: creation, redemption and custody
Futures-based crypto ETFs and the cost of the roll
Costs, tracking difference, premiums and discounts
Custody and counterparty risk, product by product
A product scorecard, and what a Vietnamese investor can access

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This chapter is in the full book

Chapter 1 is free to read online. The full text of chapter 16 — with its tables, figures, worked examples and practice lab — is available in the complete edition of Forex and Crypto Investing: From Theory to Practice (Volume 3, NXW Investment Library).

Read Chapter 1 free Get the full book — contact@nxw.vn

Sections of this chapter

16.1 Four routes to the same exposure

16.2 Currency funds and hedged share classes

16.3 ETFs, ETNs and ETPs: what is inside the wrapper?

16.4 Spot crypto ETFs and ETPs

16.5 Futures-based crypto ETFs

16.6 What a product really costs

16.7 Premiums, discounts and tracking

16.8 Custody and counterparty risk

16.9 A product scorecard

16.10 Products seen from Vietnam and Asia

← Chapter 15: FX and Crypto Indexes Chapter 17: Trading Platforms, Brokers and Costs →