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LOL

Genuine questiin though. How does one "transfer" his BTC to an ETF? I thought the way they work is people buy papers for fiat. Didn't know they can give away BTC in exchange for papers.

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Brett Phillips 10mo ago

If we are talking about US ETFs, you are correct.

If you are not a market maker for that security, which no individuals are, then you must buy shares of the ETF on the secondary market, usually through a brokerage, using fiat.

“In kind” redemption, if allowed, is only for the market makers who are creating or redeeming shares.

NFA

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Discussion

hh 10mo ago

So what do you think? Did he sell his BTC for fiat, just to then change it back for pieces of paper?

That would be absolutely wild.

2Pac 10mo ago

He must have sold then bought etf. Weak sauce.