People and their conspiracy theories about ETFs are funny. The amount of fear on here over firms simply packaging up Bitcoin to be sold through regulated financial product is pretty funny. Seems like half of the people on here thinks the ETF issuers are committing massive fraud and are stealing their customers' money to manipulate Bitcoin, when all they are doing is serving as the middleman to hold bitcoin on behalf of their customers.
Does Wall St do manipulative things to make more money? Absolutely. But they are not going to commit very obvious fraud with billions of dollars just to hurt a product that they literally make money off of lol.
Bitcoin ETFs are very straightforward. Client gives them money -> they use that money to buy bitcoin and give client appropriate number of shares of the ETF -> ETF tracks the price of Bitcoin because it holds Bitcoin worth the amount of money that has gone into the ETF.
Ya'll crack me up sometimes
Remember last year when people were SURE Blackrock was going to somehow fork Bitcoin and destroy the old chain and turn Bitcoin into a Blackrock owned product....all just from having an ETF
too funny