That would be good for bitcoin. I'm just worried its locked up in there forever, never comes out, then gets converted into a bitcoin bank in the future. If the etfs are fractional reserve-ing on the sly, then that will hurt them more than bitcoin in the long run.
I wouldn't dream of buying an etf, bitcoin or otherwise. Mega systemic risk, I don't approve.
Like, what if people sell etf shares but the fund or fund owner keeps the btc in preparation for loaning it as a bank, instead of selling it on chain. That would be bad.
faking ownership of bitcoin is always a problem
many exchanges have done this and the real stock of bitcoin in the market and on offer is actually unknown because they are all lying ass dogs
this is why, when the actual demand gets hard, the price moves fast, because much of what was stopping the price moving up, previously, was paper, hot air.
I'm not sure that's actually a problem, if it causes banks to blow up. Banks are predators... I hope the lie about their reserves then panic and burn, and let the btc run free in the process
something that might help to calm your mind about this
if they lose the coins, good, our coins become worth more
if they sold the coins beforehand, and fail because they did that, whatever, that's why the price didn't move
yeah, they aren't gonna lose the bitcoins, or lock them up, same thing i guess
more likely they are gonna rob people by playing the margin game, the rule in fiat finance, how little can you actually hold so you reduce your downside risk while avoiding the bankrun risk
totally missing the point of what it's for, but ok, it's good that bitcoin has finally reached the point where the suits are trying to make money out of it
that means we are big biznis
