for six months

wallstreet and conbase

trade otc

which is outside of the btc market

this way no one knows what they are doing. it has no influence on the general market. no one knows WHAT those etfs are buying. btc or paper btc or options on btc. it could be anything.

on top of that btc futures are traded on the cme. futures are rights to sell or buy assets in the future, just like options but riskier. in order to sell futures, you do not even need to own the asset. furthermore they do hypothecation and rehypothecation with IOUs. in short it means lending and lending again. it forms a huge bubble of rights and liabilities, same as in 2008 it is supposed to burst.

i never understood why those btc influencers rejoiced when btc etfs were announced.