Subnostr

Absolutely, but the difference is that due to the nature of Bitcoin, it’s very easy to obtain onchain bitcoin and very quickly the “real” bitcoin price will not be reflected in the shares of the ETF price.

This will eventually become so exaggerated that it would make no sense to hold the ETF and they would subsequently collapse in that scenario too.

𝖋𝖎𝖆𝖙𝖉𝖊𝖓𝖎𝖊𝖗 (¯`◕‿◕´¯) 2y ago

They will never publish their on chain adddress and you will never be able to verify their holdings. just trust me bro 😎

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Discussion

BoomTown 2y ago

Yep, the ETF rug(s) will make FTX look small.

Also, to the extent someone is using Bitcoin ETFs … I am planning to recommend Fidelity. They’ve been in the game for a long-time, understand Bitcoin, and are providing their own custody solution for the ETF. To the extent one of the ETFs will “do it right” they have the longest track record in the space.

jamw 2y ago

All sounds like the paper bitcoin exchange model 😂 - we’ve seen what happens to those…