This isn’t surprising considering Coinbase can nuke 90% of the ETFs if they fail as a custodian.
This is basically confirming that Bitcoin can’t be rehypothicated so you can’t lever the shares.
Bullish
Wtf The Depository Trust Company is giving no value to collateral that includes bitcoin as an underlying asset.
You can find the pdf of the update on their website. https://www.dtcc.com
They are throwing the entire centralized kitchen sink at Bitcoin. 
This isn’t surprising considering Coinbase can nuke 90% of the ETFs if they fail as a custodian.
This is basically confirming that Bitcoin can’t be rehypothicated so you can’t lever the shares.
Bullish
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