Hey nostr:npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7z

Since Bitcoin ETFs are cash-based, can an AP set up an agreement with someone to sell them outflow Bitcoin so that someone can build a BIG position without moving the market? Maybe even the ETF issuer or the AP themselves (ie Blackrock or JPMorgan)?

If this is allowed, then perhaps this is even the reason why the ETFs aren't going to be in-kind (initially)? Or maybe I'm just being paranoid? 🤷‍♂️