The key thing about any Bitcoin ETF that is approved is the question of ‘will they allow us to see the on chain Bitcoin’.
If they don’t show us the Bitcoin addresses, then we have to ask ‘Are they full reserve?’
Discussion
That shit is gonna be like gold.. they gonna start selling bitcoin they dont have and say its ok just like gokd
If that is the case then they will be trying to keep the price down just like gold.
The interesting thing is that Bitcoin is a finite asset. When all Bitcoin on exchange gets withdrawn, there will be none available for the ETFs to buy.
We don’t have to ask, we know
How can you know without verifying?
With banking and paper monetary goods it’s like “innocent until proven guilty” but the opposite. Fractional until proven full. This is just my opinion but the history of money suggests it’s a pretty safe bet
It’s interesting, because it comes down to the core of what Bitcoin is. Secure ownership by the people and audibility by the people.