Replying to Avatar WhiteRabbit

BLACKROCK BUYS OVER HALF A BILLION DOLLARS OF BITCOIN YESTERDAY.

ᴀɴᴅ ᴛʜᴇ ᴘʀɪᴄᴇ ɢᴏᴇs ᴅᴏᴡɴ.
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0xtr 1y ago

Are there any laws requiring them to actually hodl UTXOs or can they just buy paper-bitcoin? How do you buy that much without moving the market?

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WhiteRabbit 1y ago

Spot settled means it should be physical bitcoin in Coinbases custody. Although last i checked we have no way to audit what they hold. There's definitely a transparency issue with a majority of the ETF's.

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A Girl In Phoenix 1y ago

Ironically, that’s the appeal of BTC. Transparency issues.

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0xtr 1y ago

Not for a government controlled financial entity. They could, and probably have to(?), report holdings to various instances of gov

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A Girl In Phoenix 1y ago

Sort of. See Investment Company Act 1940

The question is: How do you want to hold your BTC exposure? Through regulated entities or cold storage.

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pailakapo 1y ago

coinbase can change a number on their ledger if that's the standard.

one of the ETFs posts their addresses. If they would move off of coinbase and post their addresses I bet the price would move with ETF purchases more.