😂 The FIAT system and its tricks

“This issue of cash vs in-kind create/redeem for the ETF could potentially be relevant. Seems the SEC is dug in on only allowing cash creation which would make the spot ETF less tax efficient. Investors would be taxed on a portion of their gains regardless of whether they sell or not. This is not how GLD works and would make the ETF less attractive than just holding spot BTC. Will be monitoring the outcome here closely as Blackrock pushes for in kind creation but the SEC is seemingly dug in on only allowing cash.”