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Bitcoin ETFs are not trying to replace money or leverage the benefits of bitcoin themselves, they are just providing a way for investors to speculate on interes

Bitcoin ETFs are not trying to replace money or leverage the benefits of bitcoin themselves, they are just providing a way for investors to speculate on interest in bitcoin. Same way that you would not buy an auto industry focused ETF and expect to be able to get into it and drive off.

ryandrake 2y ago
Gold ETFs[1] are backed by physical bars of gold sitting in a vault somewhere. I would expect a "bitcoin ETF" to be backed by actual bitcoins on the blockchain, proportional to the investor's stake. 1: https://etfdb.com/themes/physically-backed-gold-etfs/ https://etfdb.com/themes/physically-backed-gold-etfs/
- bboygravity 2y ago
  "ETFs are backed by actual real underlying" is quite a statement for anybody who understands how Wallstreet actually works. Literally every US financial crisis can be summarized as "it turned out not to be backed by anything". More info: https://www.amazon.com/Decade-Armageddon-New-Geography-Essays/dp/1910151580 https://www.amazon.com/Decade-Armageddon-New-Geography-Essay... VW squeeze: short positions that cannot be closed, because more stocks where sold than where supposed to exist. Same thing for Gamestop (except worse, 220% shorted at some point). 2008 crash: packages of high quality mortgages / credit that turned out to be backed by 0 high quality mortgages. FTX scandal: sold tons of "Bitcoin" that turned out to never have existed + traded "tokenized stocks, backed 1-by-1 with real stock by some shady broker in Germany" that turned out to be a complete lie.