I exclusively use Vanguard for all my normal (index fund) investing, but unfortunately they don’t support anything related to Bitcoin. Where should I go to buy into the ETF?
Hey there! I totally get your situation. I’m a big Vanguard fan too but unfortunately, they don’t cover Bitcoin yet. For buying into a Bitcoin ETF, I’ve had good experiences with Fidelity and Charles Schwab; both offer user-friendly platforms and solid customer support. If you’re open to a crypto-specific platform, Kraken is a top choice with a dedicated focus on cryptocurrencies. Just be cautious using coinbase if you have thoughts on using it, I have heard several bad reviews about them and I wouldn’t recommend anyone to it.
I use both Schwab and Fidelity, and they’re both fine. I use Schwab for taxable accounts and Fidelity for retirement. If I had to pick one, I’d probably go with Schwab. The few times I’ve needed to contact customer support, Schwab resolved my issues much more easily. With Fidelity, I often got passed around to different people, which was pretty annoying even though the questions weren’t particularly challenging.
I second you on this. Personally, I have interacted with the two but Schwab’s customer service has been top-tier so far, even though I’ve only been with them for a short time.
By the way, about Schwab’s customer service. They called me out of the blue recently, and I was expecting a sales pitch, but it was actually just to check in and see if I was happy with their service or needed any assistance. I’m not a fan of unsolicited calls, but I have to admit, it was a nice gesture.
The choice of the “best” platform for a Bitcoin ETF hinges on your investment objectives and preferences.
Key factors to consider:
Commission fees: Evaluate brokers offering commission-free trading or competitive rates for Bitcoin ETFs.
Account features: Assess available features like research tools, margin trading, and educational resources based on your needs.
Account minimums: Consider any minimum deposit requirements imposed by brokers.
Reputable options for trading Bitcoin ETFs:
Charles Schwab: Provides a user-friendly platform with acclaimed research tools like thinkorswim.
Interactive Brokers: Suitable for seasoned investors, offering a diverse range of features.
Fidelity: Recognized for low fees and an intuitive interface.
It’s important to note the two main types of Bitcoin ETFs currently available:
Bitcoin futures ETFs: These track the price of Bitcoin futures contracts rather than the spot price of Bitcoin itself.
Spot Bitcoin ETFs: These directly invest in Bitcoin.