Purpose has 2.1 billion in their btc spot.
Youāre right itās pittance, but it still can be used to test.
Discussion
Love you brother. ššš
All speculation in good fun with much respect. Thx for playing again today.
šš¤
I think what we need to acknowledge is that there will come a point when there is almost no supply for sale, versus insatiable demand. If the ETFs sell shares today on the expectation that they can shore up their BTC reserves tomorrow, they will find the price has completely run away. In 24 hours.
It will be not unlike GME. And the solution to that āproblemā was simply disabling the ābuyā button.
I suspect the same will happen here. ETFs will disable cash creates until markets āstabilizeā while selling will remain available.
Weāve seen this movie before.
Remember, these ETFs all use a single broker (they donāt shop around) and they all reserve the right to choose and suspend their pricing model at will. And now they wonāt allow any redemption which would allow arbitrage to balance the price globally.
Itās going to be fucking wild watching the next three years
