What do you think about BTC ETF's? I ask, because I think I saw you mention that you used grayscale's product at one time.
I would love to get your perspective.
Discussion
#Bitcoin ETFs are unnecessary and inevitable. The whole point of an ETF is either to dematerialize something physical (such as GLD) or aggregate and discretize something already ephemeral (such as SPX or an MBS).
Bitcoin is digitally native and finely divisible. An ETF introduces an intermediary where none is needed.
Nonetheless, many people are not comfortable with taking responsibility. They would rather outsource custody to big asset managers. Thatâs why I say they are inevitable.
Incorrect. Not necessary for us, but we arenât the target market.