Whelan thinks that throughout the yr we’ll be seeing the launch of extra bitcoin investment automobiles, starting with ETFs (trade traded funds) that observe the efficiency of bitcoin futures, similar to ETFs that monitor the performance of the S&P 500 or different market indices. Once more, these bitcoin ETFs can be betting on the worth movement of bitcoin futures, not bitcoin itself. They are going to be a derivative of a derivative – precisely what Wall Road likes (please see the 2008 market bubble and crash).
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Demand for betting on sports activities like horse racing and European soccer have helped cushion the blow, King mentioned. He added that wagering on baseball video games so far this 12 months has been more than the company anticipated and that demand for FanDuel’s fantasy baseball products are up greater than 3 times from the beginning of the 2019 season.
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