I agree and don’t think they will do FTX shady stuff at all. I do think that reserve requirement’s are unclear by design & are not 1:1. This is fractional reserve BTC territory we’re heading into.
Truly scarce is a problem for them all. Big problem.
If it weren’t, the answer would be as clear as the sun on a beautiful sunny day. But alas, nobody has a clear answer.
I think some will do proof of reserve and provide addresses and such as an incentive to woo certain investors who want that transparency.
well, it would matter if it affected the spot price but it's a derivative and if anyone is stupid enough to confuse the two then ... well...
it's a derivative, ok? it's a derivative, shout it from the towers!
you can have the real thing without any fucking KYC or account or any government approved shiot
ETF = derivative
degree 1, but it's still a derivative
Yes but you missed the point I think. Nobody thinks the customer will own any BTC. Cash-in/cash-out is clear.
Read again for clarity if you want to add.
It is not a derivative
Where do ppl go buy $1M+ of no KYC bitcoin?
People that buy the ETF aren’t buying BTC.
📄 🙌
nostr:note1yjlam6f3jez6nahnhgpdkden8f0d4v7rjks0mynlz5m2t55uexvqnjha5t
That’s right, they are buying the ETF and they know it. They like it
Idk why orange pillers assume high net worth individuals won’t know the difference. I think it’s all just virtue signaling and cope for not stacking hard enough.
I could care less if people sell some of their S&P 500 ETF to buy the bitcoin ETF instead of buying bitcoin itself. They don’t need to value what I value.
