Bitcoin’s success does not depend on an ETF.
But the wealth and financial independence of many people does.
An ETF can be a natural first step to owning your own BTC in cold storage.
Training wheels to self sovereignty.
Blockworks piece below includes comments from our 3iQ research team, Zack’s research, and Grayscale’s (issuer of GBTC) legal head on why Grayscale’s chances of benefiting from a spot BTC ETF differ from the other filers such as Ark, Fidelity and BlackRock.