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> A spot bitcoin ETF would track the price of the cryptocurrency and allow investors to have it in their portfolios through an investment fund, instead of havin
by tromp 3y ago
> A spot bitcoin ETF would track the price of the cryptocurrency and allow investors to have it in their portfolios through an investment fund, instead of having to shell out over $43,000, or the price at which bitcoin is currently trading.
This betrays some big misunderstanding of Bitcoin, which you can buy in quantities much smaller than 1 BTC (technically, as small as 10^-8 BTC). Many people gamble a few hundred dollars on Bitcoin.
- latchkey 3y agoExactly, you can buy any $ amount that you want. Way back in Nov 2020, Paypal opened up crypto transactions and for the hell of it, I bought $100 each of bitcoin and ethereum. I haven't touched it at all. Today, it is worth a combined $742.28. ETH is up 381%, while BTC is up 161%. It has been a fun experiment and I plan to donate it all to charity at some point.