I don’t believe the run rate on GBTC will last that long.
nostr:npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7z nostr:npub1pyp9fqq60689ppds9ec3vghsm7s6s4grfya0y342g2hs3a0y6t0segc0qq do we know that the ETF settlements are all two day delays? Does that mean the 600M-800M net inflows from Thursday and Friday should settle in the physical bitcoin market on Tuesday and Wednesday?
And at the “current” run rate GBTC will only last ~two months before that whole fee arbitrage trade is wrapped up?
And while no one is timing markets or trading bitcoin (or price predicting) the macro 📈🔥🚀 caused by the ETFs would directionally be (at worst) sometime in late-March?
Discussion
Agree. And tomorrow we should see a pop in the bitcoin markets as that 600M net inflow to the Bitcoin ETFs from Thursday hits the spot Bitcoin market.
I found this to be an exactly summary of last week.:
*excellent
Thanks for sharing. I read that, too. I really like James.
It seems like he avoided the concept of T+2 in specifically calling out that net inflows hit two days after the investment. I also read rational root’s analysis and he alluded to a T+1 settlement…
I know “price action” doesn’t matter but given that these ETFs are a huge entry point for a lot of people, it would be good for bitcoiners to know how to talk to folks investing in the ETFs in what is happening with the ETFs and how it impacts the physical bitcoin market.
I’m not on Xitter so not seeing anything that is getting posted over there.
I agree and I am not on xitter either.