I read a bunch of the Blackrock prospectus. They have a pretty sophisticated plan for keeping fully reserve. But they also have the right to suspend their pricing method unilaterally. It’s going to work perfectly right up until it doesn’t.
Discussion
Daily settlement? 1:1 reserves to cash?
Trading days, and yes they’re supposed to peg for NAV. In theory if one ETF lags its NAV too much it will lose ground to the others.
6102 remains a pretty logical endgame though because the majority of these coins are going to be held at Coinbase
Where the fuck are they going to get the BTC to back a 1:1?
This is wild.
