Subnostr

Are they actually going to have Bitcoin, even at Coinbase, for the paper issuance after cash is received? Nothing like 3 layers of counterparty risk for an asset you could hold yourself.

CitizenPleb 2y ago

Not enough to meet the inevitable institutional demand.

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Discussion

plebiANON 2y ago

That’s what it sounds like. Like they are openly saying it’s just some paper that trades along with price action. It sounds like a totally losing product if other ETFs get approved where they actually hold Bitcoin. I’m starting to see visions of a 10x FTX forming.

CitizenPleb 2y ago

The only institution at this point that will offer the ETF and custody the bitcoin themselves is Fidelity.

In every case it’s just paper. That said, tens of billions will flow into these products in the first year alone.

plebiANON 2y ago

Incredible.