>"The historic approval paves the way for the first regulated exchange-traded product in the U.S. to give investors direct exposure to the price of Bitcoin with

>"The historic approval paves the way for the first regulated exchange-traded product in the U.S. to give investors direct exposure to the price of Bitcoin without requiring them to buy it or worry about self-custody. Investors will buy shares in ETFs holding Bitcoin as its underlying asset." Interesting! Looks like we've paved the way for yet another abstracted financial instrument -- which sits on top of yet another abstracted financial instrument... My only question, at this point in time, were I to have one, would be something like the following: What's the maximum levels of financial abstraction -- that can be stacked on top of one another? ? ??? Related: https://en.wikipedia.org/wiki/Financial_instrument https://en.wikipedia.org/wiki/Financial_instrument https://en.wikipedia.org/wiki/Abstraction https://en.wikipedia.org/wiki/Abstraction https://www.joelonsoftware.com/2002/11/11/the-law-of-leaky-abstractions/ https://www.joelonsoftware.com/2002/11/11/the-law-of-leaky-a... https://en.wikipedia.org/wiki/Abstraction_(linguistics) https://en.wikipedia.org/wiki/Abstraction_(linguistics) https://en.wikipedia.org/wiki/Tower_of_Babel https://en.wikipedia.org/wiki/Tower_of_Babel https://www.youtube.com/watch?v=LFrdqQZ8FFc https://www.youtube.com/watch?v=LFrdqQZ8FFc