Subnostr

Last day Australia 🇦🇺 doesn't have a spot bitcoin ETF

Monochrome launching tomorrow, Tuesday 4th June

Notable difference over some of the foreign ETFs is that redemptions can be made "in specie" (to use the tardfi term) .. that is, you can withdraw bitcoin from the ETF

This is a significant differentiator, and one that enables noob ETF buyers, after they go down the Bitcoin learning rabbit hole, to then hold their own keys when they're ready 🤝

An EFT that actually allows you to withdraw your bitcoin 🔥

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Discussion

Splintern 1y ago

How will this mesh with the <$10k bank transfer rules? Can anyone buy the ETF then transfer out the coins?

btcschellingpt 1y ago

As I understand it, if you have an existing brokerage account with the likes of Macquarie/Commbank etc, then you'll be able to buy the units there; bank transfers into brokerage platforms are pretty much unconstrained

Splintern 1y ago

Cheers mate.

Also your lightning address doesn't seem to be working

btcschellingpt 1y ago

Thanks 🙏

Brisket 1y ago

It will probably have as much impact on price as the Hong Kong ETF.

Good for HNW Australians though.

I wonder how many will actually withdraw to their own wallet?

btcschellingpt 1y ago

Guess we’re about to find out

Brisket 1y ago

I'm prepared to fuck around 😉

btcschellingpt 1y ago

This is the way 🤝🧡

Rand 1y ago

is this surprising to U mates?