In Canada we have had a spot etf for over a year. It functions the same as any other etf. It holds bitcoin and buys and sells each day. You can withdrawal your money at any time. You can hold it in registered accounts, like tfsa and not pay any tax on capital gains. Yes, it’s not real Bitcoin but there are some tax advantages to holding it, if that’s something one would consider. I believe black rock’s would be the same, as Canada is often a test market for American products.
Discussion
Yes you are correct i just looked into it it will have Redemptions and creations , the no withdrawl comment from the même made me go wait they launching a gbtc ?🤨
but Nope its basically the same as the Canadian and euro etf
I didn’t realize Europe already has a spot. Australia too.
Honestly it's good news, I'm just apprehensive to trust it. 😅
Hopefully it makes the curious look into this and maybe actually see it past a speculative trade. With that kind of "legitimacy" placed on it.
At the very least it can be a good reason people start learning about bitcoin , lets take the positive side and continuing shitposting 🫡😁
I agree with what you’ve said here. Baby steps right? It will gain legitimacy and will expose people who may have not felt competent in holding it themselves. Meet them where they are and educate them on the benefits of self custody. Win win in my book. It’s going to be a crazy 18 months. Shitposting is a must 🤙
I'll try and do better next time 😂🫂
I didnt know Australia had one or i forgot lol
Going to be interesting tho especially with the election cycle coming and bitcoin being a point of discussion🍿