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nobody 1y ago

Fidelity is the only ETF doing self custody.

Where do they buy their coin?

Coinbase?

If true, then will Fidelity make a play soon to get into the BTC exchange game?

Then they just buy from themselves. 🧐🧐🧐

That could hurt Coinbase. They could just buy Strike maybe.

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mrclownworld 1y ago

A quick gander at their logo suggests they don’t intend to share

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nobody 1y ago

Yup. Ned Johnson incorporated some crazy Japanese business practices into their culture as well.

Fidelity is an interesting company.

Never went public. Never will go public either.

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BITwise 🐳 >>= RIGHTish 1y ago

If memory serves, fidelity has been mining for many years.

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nobody 1y ago

Yes. They have. Timmer is lead there.

Abby Johnson also personally mines BTC. Has been for many years.

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BITwise 🐳 >>= RIGHTish 1y ago

Mining since 2014. They're OGs

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🐢 1y ago

No, they do not get their coin from Coinbase. Fidelity uses Jane Street and Cumberland to source OTC corn for their ETF. And then self custody’s that corn in a separate arm of their corporate structure.

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nobody 1y ago

👊👊👊🔥