.....How can bitcoin have its own ETF when bitcoin is just 1 asset on its own?
Sorry but I don't remember any bitcoin ETF getting approval from US SEC. Am I missing something? All I've seen so far were "close to being approved".
Until bitcoin ETF gets an approval, I don't think we will see ETF for other cryptocurrencies.
Buying individual altcoins is too risky.
Don't buy into token sales, DeFi hypes, or those outside top 10 and you'll probably be fine. Be mindful of the BTC price also since it carries most coins when it pumps and drags them when it drops.
Yeah but how can there be a Bitcoin ETF when bitcoin is just 1 asset on its own? How can you diversify bitcoin?
Does it mean that the ETF has holdings with bitcoin balances spread across multiple exchanges like a derivative?
How can bitcoin have its own ETF when bitcoin is just 1 asset on its own?
For people to be able to bet on bitcoin's price going up without actually buying "real" bitcoin and spending their time into securing their funds. Quite an unpopular opinion, but this is the way to go for the older tech-illiterate folks.
As for "crypto ETFs", while not necessarily an ETF, investment funds such as Grayscale Digital Large Cap Fund exists. Though I'm definitely not for investing in such funds because I'm personally not bullish on 99.9% of altcoins in the long-term.
What's happens when they bet using crazy leverage like 100x but the bitcoin circulating supply does not cover that much? How can such derivatives exist when there's not enough in the underlying asset to back it up?
Will such crazy leverages artificially increase the not real circulating supply of bitcoin making bitcoin look inflationary and reduce its value?
[moderator's note: consecutive posts merged]
