Replying to Avatar The Servile Statist

One reason, a US based ETF gets access to BTC to capital in accounts with limited permissions.

Many US retirement investment accounts are limited in what assets they can hold, so a Canadian or international ETF is not available.

Thinking more adversarially, there are ways an ETF can influence the future of the network. For instance, they could engage in shorting & price controls in a similar manner to what folks allege has been going on with gold for decades. Another way is by promulgating their own fork of BTC and shorting or refusing to hold coins that are not their fork.
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Asone 2y ago

So basically, if I understand, It would allow third party ( retirement funds ) to buy paper Bitcoin ?

And people are cheering for that ? Seems like being a bozo to me :/

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The Servile Statist 2y ago

For what it’s worth, I know almost no one who is cheering for it 🤷‍♂️ Sentiment seems mostly negative.

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Asone 2y ago

https://void.cat/d/EhTGSwe9R37bAvR8eKj4xQ.webp

🤷‍♂️

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Asone 2y ago

https://void.cat/d/7Et4yUbrh3V2A2ZDRTXpfM.webp

bulltard got almost 800k followers 🤷‍♂️

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The Servile Statist 2y ago

I see… these look like “crypto” accounts, so who knows what their motivations are… They could be right about an ETF approval catalyzing price action in the 1-2 yr timeframe. Most Bitcoin bull markets have catalytic start-up events involving large amounts of spot Bitcoin accumulated by new holders. But if I had to guess, they just want their bags pumped.