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The new spot-bitcoin ETFs are likely to disappoint

The highly-anticipated spot bitcoin ETFs are likely to be disappointing performers for a considerable time after they are launched.

That’s the implication of recently published research into the post-launch performance of ETFs that focus on specialized niches of the market. The study found that these narrowly focused ETFs, on average, lag the broad stock market on a risk-adjusted basis for five years after they came to market.

The…

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