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SVTPerformance's Chain of Restaurants
Road Side Pub
BITCOIN
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<blockquote data-quote="q6543" data-source="post: 16975590" data-attributes="member: 163900"><p>That’s been the problem with GBTC, it’s a closed ended fund so under their current structure they can’t sell bitcoin.</p><p></p><p>I’m not 100% sure how ETF conversion would affect it.</p><p></p><p>Also I believe Bitcoin ETFs won’t be backed dollar for dollar with physical bitcoin. It will be leveraged out and laddered with futures still.</p><p>I don’t believe they’ll hold anymore bitcoin than they’ll need to cover the spread between the put/calls they’re selling.</p><p></p><p>I think ETFs are very bad for bitcoin overall.</p><p>It creates too much synthetic transactions</p><p></p><p>We will see shortly after they hit the markets.</p></blockquote><p></p>
[QUOTE="q6543, post: 16975590, member: 163900"] That’s been the problem with GBTC, it’s a closed ended fund so under their current structure they can’t sell bitcoin. I’m not 100% sure how ETF conversion would affect it. Also I believe Bitcoin ETFs won’t be backed dollar for dollar with physical bitcoin. It will be leveraged out and laddered with futures still. I don’t believe they’ll hold anymore bitcoin than they’ll need to cover the spread between the put/calls they’re selling. I think ETFs are very bad for bitcoin overall. It creates too much synthetic transactions We will see shortly after they hit the markets. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
BITCOIN
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